Golden Entertainment (NASDAQ:GDEN) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Golden Entertainment (NASDAQ:GDEN) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks.com reports.

Other analysts have also issued research reports about the company. JMP Securities cut their price objective on Golden Entertainment from $35.00 to $34.00 and set a “market outperform” rating on the stock in a research report on Tuesday, September 16th. Macquarie decreased their price target on shares of Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Citigroup restated an “outperform” rating on shares of Golden Entertainment in a report on Tuesday, September 16th. Truist Financial upped their price objective on shares of Golden Entertainment from $25.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, November 7th. Finally, Citizens Jmp cut Golden Entertainment from a “market outperform” rating to a “hold” rating in a research report on Friday, November 7th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Golden Entertainment presently has an average rating of “Hold” and a consensus target price of $32.60.

Golden Entertainment Trading Down 0.4%

Shares of NASDAQ GDEN opened at $29.73 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $778.15 million, a PE ratio of 55.06 and a beta of 1.67. Golden Entertainment has a twelve month low of $19.57 and a twelve month high of $35.49. The stock has a fifty day simple moving average of $23.57 and a 200-day simple moving average of $26.32.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.10). Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. The business had revenue of $154.82 million during the quarter, compared to analyst estimates of $157.21 million. On average, equities analysts forecast that Golden Entertainment will post 0.2 earnings per share for the current year.

Golden Entertainment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.4%. Golden Entertainment’s dividend payout ratio is 555.56%.

Institutional Trading of Golden Entertainment

A number of institutional investors have recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC grew its position in Golden Entertainment by 2.5% during the third quarter. DAVENPORT & Co LLC now owns 1,521,937 shares of the company’s stock worth $35,692,000 after buying an additional 37,055 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of Golden Entertainment by 3.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 901,138 shares of the company’s stock worth $21,249,000 after acquiring an additional 32,992 shares during the period. Deprince Race & Zollo Inc. increased its stake in Golden Entertainment by 2.9% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 839,494 shares of the company’s stock valued at $19,795,000 after purchasing an additional 23,476 shares in the last quarter. Penn Capital Management Company LLC raised its holdings in Golden Entertainment by 29.3% during the first quarter. Penn Capital Management Company LLC now owns 674,024 shares of the company’s stock worth $17,827,000 after purchasing an additional 152,805 shares during the last quarter. Finally, Hill Path Capital LP boosted its position in Golden Entertainment by 477.8% during the second quarter. Hill Path Capital LP now owns 655,625 shares of the company’s stock worth $19,295,000 after purchasing an additional 542,150 shares in the last quarter. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Golden Entertainment Company 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.