Principal Financial Group Inc. Increases Position in Golden Entertainment, Inc. (NASDAQ:GDEN)

Principal Financial Group Inc. increased its stake in Golden Entertainment, Inc. (NASDAQ:GDEN) by 2.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 102,344 shares of the company’s stock after acquiring an additional 2,639 shares during the period. Principal Financial Group Inc. owned about 0.39% of Golden Entertainment worth $2,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC grew its position in Golden Entertainment by 10.7% in the first quarter. DAVENPORT & Co LLC now owns 1,431,300 shares of the company’s stock worth $37,956,000 after acquiring an additional 138,137 shares in the last quarter. Inscription Capital LLC purchased a new position in Golden Entertainment in the first quarter worth $165,000. SummerHaven Investment Management LLC grew its position in Golden Entertainment by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 26,706 shares of the company’s stock worth $705,000 after acquiring an additional 439 shares in the last quarter. GAMMA Investing LLC grew its position in Golden Entertainment by 1,136.9% in the first quarter. GAMMA Investing LLC now owns 6,729 shares of the company’s stock worth $178,000 after acquiring an additional 6,185 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Golden Entertainment by 27.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,536 shares of the company’s stock worth $1,881,000 after acquiring an additional 12,712 shares in the last quarter. 70.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Truist Financial downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating and lowered their price target for the stock from $36.00 to $34.00 in a research note on Wednesday. JMP Securities set a $35.00 price target on shares of Golden Entertainment and gave the stock a “market outperform” rating in a research note on Friday. Citigroup reissued an “outperform” rating on shares of Golden Entertainment in a research note on Friday. Finally, Wall Street Zen raised shares of Golden Entertainment from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. 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 $36.50.

Golden Entertainment Stock Performance

Shares of NASDAQ:GDEN opened at $28.54 on Friday. The company has a market cap of $754.45 million, a price-to-earnings ratio of 73.18 and a beta of 1.79. The company has a 50-day moving average price of $29.10 and a 200-day moving average price of $29.18. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. Golden Entertainment, Inc. has a 12 month low of $22.66 and a 12 month high of $35.49.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $160.84 million for the quarter, compared to the consensus estimate of $164.37 million. Golden Entertainment had a net margin of 1.72% and a return on equity of 3.10%. As a group, equities analysts anticipate that Golden Entertainment, Inc. will post 0.2 EPS for the current year.

Golden Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 25th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Wednesday, June 25th. Golden Entertainment’s dividend payout ratio (DPR) is 256.41%.

Golden Entertainment 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.