Bank of New York Mellon Corp Grows Stock Holdings in Golden Entertainment, Inc. (NASDAQ:GDEN)

Bank of New York Mellon Corp grew its holdings in Golden Entertainment, Inc. (NASDAQ:GDEN) by 2.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 194,693 shares of the company’s stock after acquiring an additional 4,761 shares during the quarter. Bank of New York Mellon Corp owned about 0.67% of Golden Entertainment worth $6,057,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD purchased a new position in shares of Golden Entertainment in the 1st quarter valued at $214,000. Inscription Capital LLC purchased a new position in Golden Entertainment during the 1st quarter worth $226,000. New York State Teachers Retirement System increased its stake in Golden Entertainment by 6.7% in the first quarter. New York State Teachers Retirement System now owns 6,272 shares of the company’s stock valued at $231,000 after purchasing an additional 394 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Golden Entertainment in the second quarter valued at about $263,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Golden Entertainment by 25.6% during the first 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. Institutional investors and hedge funds own 70.73% of the company’s stock.

Golden Entertainment Trading Up 1.2 %

Shares of GDEN stock opened at $31.95 on Friday. The stock has a market cap of $924.92 million, a P/E ratio of 3.45 and a beta of 2.23. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.72. Golden Entertainment, Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $42.14. The business has a fifty day simple moving average of $30.62 and a 200-day simple moving average of $31.81.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. The company had revenue of $167.33 million during the quarter, compared to analysts’ expectations of $176.34 million. On average, analysts forecast that Golden Entertainment, Inc. will post 0.25 earnings per share for the current fiscal year.

Golden Entertainment Announces Dividend

The company 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $1.00 annualized dividend and a yield of 3.13%. Golden Entertainment’s dividend payout ratio is presently 10.79%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GDEN. StockNews.com cut Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Truist Financial dropped their price objective on shares of Golden Entertainment from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Macquarie reduced their target price on shares of Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, JMP Securities cut 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 report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Golden Entertainment currently has an average rating of “Moderate Buy” and an average target price 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.