Geode Capital Management LLC Increases Stock Position in Golden Entertainment, Inc. (NASDAQ:GDEN)

Geode Capital Management LLC grew its stake in Golden Entertainment, Inc. (NASDAQ:GDEN) by 4.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 587,006 shares of the company’s stock after buying an additional 24,264 shares during the quarter. Geode Capital Management LLC’s holdings in Golden Entertainment were worth $18,664,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Golden Entertainment by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 194,693 shares of the company’s stock worth $6,057,000 after purchasing an additional 4,761 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Golden Entertainment during the 2nd quarter valued at about $54,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Golden Entertainment by 17.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock valued at $184,000 after buying an additional 892 shares in the last quarter. nVerses Capital LLC bought a new stake in Golden Entertainment in the 2nd quarter worth approximately $37,000. Finally, Rhumbline Advisers boosted its stake in Golden Entertainment by 9.1% in the second quarter. Rhumbline Advisers now owns 52,360 shares of the company’s stock worth $1,629,000 after buying an additional 4,379 shares in the last quarter. Institutional investors own 70.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GDEN. Macquarie reduced their price objective on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company began coverage on Golden Entertainment in a research report on Monday, December 16th. They set an “overweight” rating and a $38.00 price target on the stock. JMP Securities boosted their price objective on Golden Entertainment from $35.00 to $36.00 and gave the company a “market outperform” rating in a research report on Monday, November 25th. B. Riley cut their target price on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

Golden Entertainment Stock Performance

NASDAQ:GDEN opened at $31.39 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 1.11. The stock has a 50-day simple moving average of $32.14 and a two-hundred day simple moving average of $31.20. The firm has a market capitalization of $861.00 million, a PE ratio of 25.31 and a beta of 2.22. Golden Entertainment, Inc. has a 52-week low of $27.42 and a 52-week high of $40.74.

Golden Entertainment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 3.19%. Golden Entertainment’s payout ratio is 80.65%.

Insider Transactions at Golden Entertainment

In other Golden Entertainment news, Director Terrence Wright sold 16,586 shares of Golden Entertainment stock in a transaction on Friday, December 20th. The shares were sold at an average price of $31.26, for a total value of $518,478.36. Following the sale, the director now directly owns 61,616 shares in the company, valued at approximately $1,926,116.16. The trade was a 21.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.