StockNews.com Upgrades Golden Entertainment (NASDAQ:GDEN) to Strong-Buy

StockNews.com upgraded shares of Golden Entertainment (NASDAQ:GDENGet Rating) from a buy rating to a strong-buy rating in a report issued on Friday morning.

Several other equities analysts have also weighed in on GDEN. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Golden Entertainment from $66.00 to $57.00 in a research report on Friday. Zacks Investment Research raised shares of Golden Entertainment from a hold rating to a buy rating and set a $57.00 price target on the stock in a research report on Friday, April 22nd. Macquarie raised their price target on shares of Golden Entertainment from $64.00 to $66.00 and gave the stock an outperform rating in a research report on Friday, February 18th. Finally, Roth Capital began coverage on shares of Golden Entertainment in a research report on Wednesday, February 16th. They set a buy rating and a $70.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $64.17.

Shares of GDEN traded up $0.17 during trading hours on Friday, hitting $46.10. The company had a trading volume of 439,151 shares, compared to its average volume of 243,610. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 7.84 and a beta of 2.59. The business has a fifty day moving average of $53.59 and a 200-day moving average of $50.62. Golden Entertainment has a 12 month low of $37.19 and a 12 month high of $59.96. The company has a quick ratio of 2.03, a current ratio of 2.08 and a debt-to-equity ratio of 3.16.

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). The company had revenue of $281.96 million during the quarter, compared to the consensus estimate of $264.84 million. Golden Entertainment had a net margin of 14.75% and a return on equity of 54.07%. During the same period in the previous year, the company earned ($0.44) earnings per share. On average, equities analysts expect that Golden Entertainment will post 3.33 EPS for the current fiscal year.

In other news, COO Stephen Arcana sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $54.83, for a total value of $932,110.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Blake L. Sartini sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $55.32, for a total transaction of $4,149,000.00. The disclosure for this sale can be found here. Insiders have sold 860,129 shares of company stock worth $42,409,156 over the last quarter. Corporate insiders own 41.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Golden Entertainment in the 4th quarter valued at approximately $58,000. Dorsey Wright & Associates boosted its position in Golden Entertainment by 15.7% during the 4th quarter. Dorsey Wright & Associates now owns 2,065 shares of the company’s stock worth $104,000 after buying an additional 280 shares during the period. Citigroup Inc. boosted its position in Golden Entertainment by 49.9% during the 3rd quarter. Citigroup Inc. now owns 2,246 shares of the company’s stock worth $110,000 after buying an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Golden Entertainment by 129.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,617 shares of the company’s stock worth $152,000 after buying an additional 1,475 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in Golden Entertainment by 67.6% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,297 shares of the company’s stock worth $162,000 after buying an additional 1,330 shares during the period. Institutional investors own 68.88% of the company’s stock.

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.

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