Phocas Financial Corp. Has $481,000 Stake in Golden Entertainment, Inc. (NASDAQ:GDEN)

Phocas Financial Corp. cut its stake in Golden Entertainment, Inc. (NASDAQ:GDEN) by 85.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,224 shares of the company’s stock after selling 86,459 shares during the period. Phocas Financial Corp. owned approximately 0.06% of Golden Entertainment worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GDEN. DAVENPORT & Co LLC lifted its position in shares of Golden Entertainment by 26.6% in the fourth quarter. DAVENPORT & Co LLC now owns 1,293,163 shares of the company’s stock worth $40,864,000 after purchasing an additional 271,782 shares in the last quarter. Systematic Financial Management LP grew its position in Golden Entertainment by 24.5% in the third quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock valued at $11,197,000 after purchasing an additional 69,207 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Golden Entertainment by 37.6% in the 4th quarter. Bank of New York Mellon Corp now owns 241,658 shares of the company’s stock valued at $7,636,000 after buying an additional 66,061 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Golden Entertainment by 16.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,709 shares of the company’s stock worth $8,860,000 after buying an additional 38,385 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Golden Entertainment during the 3rd quarter worth about $875,000. 70.73% of the stock is owned by institutional investors and hedge funds.

Golden Entertainment Stock Down 3.3 %

GDEN stock opened at $30.53 on Wednesday. The business’s fifty day moving average price is $32.24 and its two-hundred day moving average price is $31.89. The stock has a market capitalization of $837.41 million, a price-to-earnings ratio of 24.62 and a beta of 2.21. Golden Entertainment, Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $37.30. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03.

Analyst Ratings Changes

A number of research firms recently issued reports on GDEN. Jefferies Financial Group lifted their target price on Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Macquarie lowered their price target on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. StockNews.com raised Golden Entertainment from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. JMP Securities restated a “market outperform” rating and set a $36.00 target price on shares of Golden Entertainment in a report on Thursday, January 16th. Finally, 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 target on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.57.

Insider Buying and Selling at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $31.26, for a total value of $518,478.36. Following the transaction, the director now owns 61,616 shares in the company, valued at approximately $1,926,116.16. This trade represents a 21.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 29.10% of the company’s stock.

About Golden Entertainment

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.