Brokerages Set Golden Entertainment, Inc. (NASDAQ:GDEN) Target Price at $36.57

Golden Entertainment, Inc. (NASDAQ:GDEN) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $36.57.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Golden Entertainment in a research report on Monday, December 16th. They set an “overweight” rating and a $38.00 target price on the stock. Jefferies Financial Group boosted their target price on shares of Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. JMP Securities boosted their target price on shares of Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Monday, November 25th. B. Riley dropped their target price on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, StockNews.com lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th.

Golden Entertainment Price Performance

Shares of Golden Entertainment stock opened at $31.31 on Monday. Golden Entertainment has a 1-year low of $27.42 and a 1-year high of $40.55. The firm has a fifty day simple moving average of $32.28 and a 200-day simple moving average of $31.28. The stock has a market capitalization of $858.80 million, a price-to-earnings ratio of 25.25 and a beta of 2.22. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75.

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 paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 3.19%. Golden Entertainment’s dividend payout ratio is currently 80.65%.

Insider Activity

In other news, Director Terrence Wright sold 16,586 shares of the business’s 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 transaction, the director now directly owns 61,616 shares of the company’s stock, valued at $1,926,116.16. The trade was a 21.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC boosted its holdings in shares of Golden Entertainment by 84.7% in 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 boosted its holdings in shares of Golden Entertainment by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock worth $18,664,000 after acquiring an additional 24,264 shares in the last quarter. MML Investors Services LLC boosted its holdings in shares of Golden Entertainment by 29.1% in the 3rd quarter. MML Investors Services LLC now owns 63,449 shares of the company’s stock worth $2,017,000 after acquiring an additional 14,293 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Golden Entertainment by 5.2% in the 3rd quarter. Jane Street Group LLC now owns 35,033 shares of the company’s stock worth $1,114,000 after acquiring an additional 1,740 shares in the last quarter. Finally, Systematic Financial Management LP boosted its holdings in shares of Golden Entertainment by 24.5% in the 3rd quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock worth $11,197,000 after acquiring an additional 69,207 shares in the last quarter. 70.73% of the stock is owned by institutional investors and hedge funds.

Golden Entertainment Company 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.