JPMorgan Chase & Co. Sells 22,155 Shares of Golden Entertainment, Inc. (NASDAQ:GDEN)

JPMorgan Chase & Co. lowered its stake in shares of Golden Entertainment, Inc. (NASDAQ:GDEN) by 41.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 31,862 shares of the company’s stock after selling 22,155 shares during the quarter. JPMorgan Chase & Co.’s holdings in Golden Entertainment were worth $1,013,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new stake in shares of Golden Entertainment in the 3rd quarter valued at approximately $42,000. Quarry LP acquired a new stake in Golden Entertainment in the second quarter worth $52,000. Canada Pension Plan Investment Board bought a new position in shares of Golden Entertainment during the second quarter worth $143,000. BNP Paribas Financial Markets grew its holdings in shares of Golden Entertainment by 7.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock valued at $143,000 after buying an additional 317 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in shares of Golden Entertainment in the 2nd quarter valued at $228,000. 70.73% of the stock is currently owned by institutional investors and hedge funds.

Golden Entertainment Trading Up 0.9 %

NASDAQ:GDEN opened at $33.03 on Friday. The company has a market cap of $905.98 million, a P/E ratio of 26.64 and a beta of 2.22. Golden Entertainment, Inc. has a twelve month low of $27.42 and a twelve month high of $40.25. The business has a 50 day moving average price of $32.48 and a two-hundred day moving average price of $31.48. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75.

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

Golden Entertainment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, December 20th. Golden Entertainment’s payout ratio is 80.65%.

Insider Activity at Golden Entertainment

In other news, Director Terrence Wright sold 16,586 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 61,616 shares of the company’s stock, valued at approximately $1,926,116.16. This represents a 21.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 29.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on GDEN shares. Jefferies Financial Group lifted their target price on Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $36.00 price objective on shares of Golden Entertainment in a research report on Thursday, January 16th. Truist Financial dropped their target price on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Macquarie reduced their price target on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, StockNews.com lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. 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 currently has a consensus rating of “Moderate Buy” and an average target price of $36.57.

Golden Entertainment 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.