Golden Entertainment (NASDAQ:GDEN) Reaches New 52-Week Low – Time to Sell?

Golden Entertainment, Inc. (NASDAQ:GDEN) hit a new 52-week low during trading on Thursday . The company traded as low as $24.48 and last traded at $25.06, with a volume of 106190 shares. The stock had previously closed at $27.46.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GDEN. Macquarie reissued an “outperform” rating and set a $40.00 price target on shares of Golden Entertainment in a research note on Friday, February 28th. StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 price objective on shares of Golden Entertainment in a research note on Thursday, January 16th. Wells Fargo & Company initiated coverage on shares of Golden Entertainment in a research report on Monday, December 16th. They issued an “overweight” rating and a $38.00 target price on the stock. Finally, Jefferies Financial Group boosted their target price 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. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.86.

Golden Entertainment Trading Down 9.1 %

The firm has a market capitalization of $661.71 million, a price-to-earnings ratio of 20.13 and a beta of 1.99. The business’s 50-day moving average price is $30.42 and its 200 day moving average price is $31.31. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03.

Golden Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 21st were issued a $0.25 dividend. The ex-dividend date was Friday, March 21st. This represents a $1.00 dividend on an annualized basis and a yield of 4.01%. Golden Entertainment’s dividend payout ratio is currently 59.88%.

Institutional Trading of Golden Entertainment

Several large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in Golden Entertainment by 16.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,709 shares of the company’s stock valued at $8,860,000 after purchasing an additional 38,385 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Golden Entertainment by 7.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock valued at $143,000 after buying an additional 317 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Golden Entertainment by 1.9% during the third quarter. HighTower Advisors LLC now owns 17,580 shares of the company’s stock worth $557,000 after buying an additional 333 shares in the last quarter. Systematic Financial Management LP increased its stake in shares of Golden Entertainment by 24.5% in 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 last quarter. Finally, Jane Street Group LLC raised its holdings in Golden Entertainment by 5.2% in the third quarter. Jane Street Group LLC now owns 35,033 shares of the company’s stock valued at $1,114,000 after acquiring an additional 1,740 shares in the last quarter. 70.73% of the stock is currently 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.