Golden Entertainment (NASDAQ:GDEN) Price Target Lowered to $34.00 at JMP Securities

Golden Entertainment (NASDAQ:GDEN) had its target price decreased by JMP Securities from $35.00 to $34.00 in a research note published on Tuesday, Marketbeat reports. JMP Securities currently has a market outperform rating on the stock.

A number of other equities analysts have also recently weighed in on GDEN. Wells Fargo & Company lowered their price target on shares of Golden Entertainment from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 12th. Truist Financial lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating and lowered their target price for the stock from $36.00 to $34.00 in a research report on Wednesday, July 16th. Citigroup reiterated an “outperform” rating on shares of Golden Entertainment in a research report on Friday, July 18th. Finally, Macquarie decreased their price target on Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Golden Entertainment has an average rating of “Moderate Buy” and a consensus price target of $35.17.

Golden Entertainment Stock Performance

NASDAQ GDEN opened at $24.39 on Tuesday. The stock has a market capitalization of $638.04 million, a price-to-earnings ratio of 45.17 and a beta of 1.65. The business’s 50 day moving average is $26.75 and its two-hundred day moving average is $27.28. Golden Entertainment has a 12-month low of $22.66 and a 12-month high of $35.49. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.95.

Golden Entertainment (NASDAQ:GDEN) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $163.62 million for the quarter, compared to the consensus estimate of $169.70 million. Golden Entertainment had a return on equity of 3.23% and a net margin of 2.35%. Research analysts expect that Golden Entertainment will post 0.2 EPS for the current year.

Golden Entertainment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Thursday, September 25th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $1.00 annualized dividend and a yield of 4.1%. Golden Entertainment’s dividend payout ratio (DPR) is presently 185.19%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in shares of Golden Entertainment by 5.8% during the 4th quarter. Northern Trust Corp now owns 197,500 shares of the company’s stock worth $6,241,000 after purchasing an additional 10,903 shares during the last quarter. Deutsche Bank AG boosted its position in Golden Entertainment by 57.0% during the fourth quarter. Deutsche Bank AG now owns 16,680 shares of the company’s stock worth $527,000 after acquiring an additional 6,054 shares during the last quarter. Lazard Asset Management LLC grew its stake in Golden Entertainment by 405.7% in the 4th quarter. Lazard Asset Management LLC now owns 1,871 shares of the company’s stock worth $59,000 after acquiring an additional 1,501 shares during the period. Millennium Management LLC grew its stake in Golden Entertainment by 885.9% in the 4th quarter. Millennium Management LLC now owns 171,302 shares of the company’s stock worth $5,413,000 after acquiring an additional 153,927 shares during the period. Finally, State of Wyoming raised its holdings in Golden Entertainment by 76.0% in the 4th quarter. State of Wyoming now owns 8,564 shares of the company’s stock valued at $271,000 after acquiring an additional 3,697 shares during the last quarter. 70.73% of the stock is currently owned by hedge funds and other institutional investors.

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.