Allspring Global Investments Holdings LLC Acquires Shares of 1,727 Golden Entertainment, Inc. (NASDAQ:GDEN)

Allspring Global Investments Holdings LLC acquired a new stake in Golden Entertainment, Inc. (NASDAQ:GDEN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,727 shares of the company’s stock, valued at approximately $54,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System increased its position in Golden Entertainment by 6.7% in the 1st quarter. New York State Teachers Retirement System now owns 6,272 shares of the company’s stock valued at $231,000 after acquiring an additional 394 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Golden Entertainment by 3.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,120 shares of the company’s stock worth $564,000 after buying an additional 524 shares during the period. BNP Paribas Financial Markets grew its position in shares of Golden Entertainment by 5.1% during the 4th quarter. BNP Paribas Financial Markets now owns 20,164 shares of the company’s stock worth $805,000 after buying an additional 983 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Golden Entertainment by 25.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 7,254 shares of the company’s stock worth $267,000 after buying an additional 1,480 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in shares of Golden Entertainment by 15.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 14,212 shares of the company’s stock worth $523,000 after buying an additional 1,896 shares during the period. Institutional investors and hedge funds own 70.73% of the company’s stock.

Golden Entertainment Stock Down 1.8 %

Golden Entertainment stock opened at $31.46 on Tuesday. The company’s 50 day simple moving average is $30.50 and its 200 day simple moving average is $31.89. Golden Entertainment, Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $42.14. The firm has a market capitalization of $890.95 million, a price-to-earnings ratio of 3.39 and a beta of 2.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.77 and a quick ratio of 0.73.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). Golden Entertainment had a negative return on equity of 0.33% and a net margin of 33.07%. The firm had revenue of $167.33 million for the quarter, compared to the consensus estimate of $176.34 million. As a group, sell-side analysts anticipate that Golden Entertainment, Inc. will post 0.25 EPS for the current year.

Golden Entertainment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Tuesday, September 17th. Golden Entertainment’s payout ratio is currently 10.79%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Truist Financial lowered their price target on shares of Golden Entertainment from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JMP Securities lowered their price target on shares of Golden Entertainment from $39.00 to $36.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Finally, Macquarie lowered their price target on shares of Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.40.

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.