Golden Entertainment (NASDAQ:GDEN) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Golden Entertainment, Inc. (NASDAQ:GDEN) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $32.48 and traded as high as $33.11. Golden Entertainment shares last traded at $33.03, with a volume of 120,614 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Jefferies Financial Group lifted their price objective on shares of Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company assumed coverage on shares of Golden Entertainment in a research report on Monday, December 16th. They set an “overweight” rating and a $38.00 price objective for the company. Truist Financial lowered their price target on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Macquarie dropped their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Golden Entertainment has an average rating of “Moderate Buy” and an average target price of $36.57.

Golden Entertainment Stock Performance

The stock’s 50-day simple moving average is $32.48 and its 200 day simple moving average is $31.46. The company has a market capitalization of $906.01 million, a PE ratio of 26.64 and a beta of 2.22. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 1.11.

Golden Entertainment (NASDAQ:GDEN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. The company had revenue of $161.23 million for the quarter, compared to analysts’ expectations of $162.22 million. Golden Entertainment had a return on equity of 0.69% and a net margin of 5.23%. During the same period last year, the firm earned ($0.02) earnings per share. As a group, research analysts expect that Golden Entertainment, Inc. will post 0.2 earnings per share for the current fiscal year.

Golden Entertainment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Friday, December 20th. Golden Entertainment’s dividend payout ratio (DPR) is 80.65%.

Insiders Place Their Bets

In related news, Director Terrence Wright sold 16,586 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $31.26, for a total value of $518,478.36. Following the transaction, the director now directly owns 61,616 shares of the company’s stock, valued at $1,926,116.16. This trade represents a 21.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 29.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Golden Entertainment

Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. acquired a new position in shares of Golden Entertainment in the 2nd quarter valued at $1,848,000. Dimensional Fund Advisors LP lifted its position in Golden Entertainment by 100.9% in the second quarter. Dimensional Fund Advisors LP now owns 163,629 shares of the company’s stock valued at $5,089,000 after purchasing an additional 82,175 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Golden Entertainment in the second quarter valued at approximately $228,000. XTX Topco Ltd purchased a new stake in shares of Golden Entertainment during the 2nd quarter worth $230,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Golden Entertainment during the 2nd quarter worth $143,000. Institutional investors and hedge funds own 70.73% of the company’s stock.

Golden Entertainment Company Profile

Golden Entertainment, Inc owns and operates a diversified entertainment platform in the United States. The company operates through four segments; Nevada Casino Resorts, Nevada Locals Casinos, Nevada Taverns, and Distributed Gaming. It also operates casino, casino resorts, and taverns; and slot machines in third party non-casino locations.