Golden Entertainment (NASDAQ:GDEN) Receives Buy Rating from B. Riley

B. Riley reaffirmed their buy rating on shares of Golden Entertainment (NASDAQ:GDENGet Rating) in a report published on Friday morning, Zacks.com reports. B. Riley also issued estimates for Golden Entertainment’s FY2022 earnings at $3.62 EPS.

A number of other equities research analysts have also recently commented on GDEN. StockNews.com upgraded Golden Entertainment from a buy rating to a strong-buy rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on Golden Entertainment from $66.00 to $57.00 in a research note on Friday. Macquarie lifted their target price on Golden Entertainment from $64.00 to $66.00 and gave the stock an outperform rating in a research note on Friday, February 18th. Roth Capital initiated coverage on Golden Entertainment in a research note on Wednesday, February 16th. They set a buy rating and a $70.00 target price on the stock. Finally, Zacks Investment Research upgraded Golden Entertainment from a hold rating to a buy rating and set a $57.00 target price on the stock in a research note on Friday, April 22nd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $64.17.

NASDAQ GDEN opened at $46.10 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.03 and a debt-to-equity ratio of 3.16. The firm’s fifty day moving average price is $53.59 and its two-hundred day moving average price is $50.62. Golden Entertainment has a 1 year low of $37.19 and a 1 year high of $59.96. The firm has a market capitalization of $1.34 billion, a P/E ratio of 7.84 and a beta of 2.59.

Golden Entertainment (NASDAQ:GDENGet Rating) last issued its quarterly earnings data on Thursday, February 17th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.07). Golden Entertainment had a net margin of 14.75% and a return on equity of 54.07%. The company had revenue of $281.96 million for the quarter, compared to the consensus estimate of $264.84 million. During the same quarter last year, the business posted ($0.44) earnings per share. On average, research analysts anticipate that Golden Entertainment will post 3.33 EPS for the current fiscal year.

In other Golden Entertainment news, COO Stephen Arcana sold 17,000 shares of Golden Entertainment stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $54.83, for a total transaction of $932,110.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Blake L. Sartini sold 168,129 shares of Golden Entertainment stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $56.79, for a total value of $9,548,045.91. The disclosure for this sale can be found here. In the last three months, insiders sold 860,129 shares of company stock valued at $42,409,156. 41.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GDEN. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Golden Entertainment during the fourth quarter worth about $58,000. Dorsey Wright & Associates grew its holdings in shares of Golden Entertainment by 15.7% during the fourth quarter. Dorsey Wright & Associates now owns 2,065 shares of the company’s stock worth $104,000 after purchasing an additional 280 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Golden Entertainment by 49.9% during the third quarter. Citigroup Inc. now owns 2,246 shares of the company’s stock worth $110,000 after purchasing an additional 748 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Golden Entertainment by 129.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,617 shares of the company’s stock worth $152,000 after purchasing an additional 1,475 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Golden Entertainment by 67.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 3,297 shares of the company’s stock worth $162,000 after purchasing an additional 1,330 shares in the last quarter. 68.88% of the stock is owned by institutional investors.

About Golden Entertainment (Get Rating)

Golden Entertainment, Inc, together with its subsidiaries, engages in the ownership and operation of a diversified entertainment platform in the United States. The company operates through four segments: Nevada Casino Resorts, Nevada Locals Casinos, Maryland Casino Resort, and Distributed Gaming. The Nevada Casino Resorts segment comprises of destination casino resort properties that include various food and beverage outlets, entertainment venues, and other amenities.

Further Reading

Analyst Recommendations for Golden Entertainment (NASDAQ:GDEN)

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