Golden Entertainment (NASDAQ:GDEN) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Golden Entertainment (NASDAQ:GDEN) from a hold rating to a buy rating in a report issued on Thursday.

GDEN has been the topic of several other reports. JMP Securities restated a “market outperform” rating and issued a $36.00 price target on shares of Golden Entertainment in a research report on Thursday, January 16th. Wells Fargo & Company started coverage on Golden Entertainment in a report on Monday, December 16th. They set an “overweight” rating and a $38.00 target price on the stock. Macquarie decreased their target price on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Truist Financial cut their price target on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group boosted 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. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Golden Entertainment has an average rating of “Moderate Buy” and an average target price of $36.57.

Golden Entertainment Price Performance

Shares of GDEN stock opened at $33.46 on Thursday. 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 has a 12 month low of $27.42 and a 12 month high of $37.30. The firm has a market cap of $917.81 million, a price-to-earnings ratio of 26.98 and a beta of 2.21. The stock has a 50-day moving average price of $32.34 and a 200 day moving average price of $31.76.

Insider Activity

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

Hedge Funds Weigh In On Golden Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Systematic Financial Management LP boosted its position in shares of Golden Entertainment by 24.5% during the third quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock worth $11,197,000 after buying an additional 69,207 shares during the period. Barclays PLC grew its stake in shares of Golden Entertainment by 84.7% during the 3rd quarter. Barclays PLC now owns 48,918 shares of the company’s stock worth $1,556,000 after acquiring an additional 22,440 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Golden Entertainment by 4.3% in the third quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock valued at $18,664,000 after purchasing an additional 24,264 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Golden Entertainment by 7.6% in the third quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock worth $143,000 after purchasing an additional 317 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in Golden Entertainment by 26.6% during 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 during the last quarter. 70.73% of the stock is owned by institutional investors and hedge funds.

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.