Golden Entertainment (NASDAQ:GDEN) Stock Crosses Below 50 Day Moving Average – Here’s Why

Golden Entertainment, Inc. (NASDAQ:GDEN)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $27.81 and traded as low as $26.70. Golden Entertainment shares last traded at $26.92, with a volume of 608,366 shares changing hands.

Analyst Ratings Changes

Several research firms have commented on GDEN. Citizens Jmp downgraded shares of Golden Entertainment from a “market outperform” rating to a “hold” rating in a research report on Friday, November 7th. Wells Fargo & Company reissued a “sell” rating and issued a $30.00 price objective (down from $34.00) on shares of Golden Entertainment in a research note on Thursday, November 6th. Weiss Ratings raised Golden Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Zacks Research upgraded Golden Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Finally, Truist Financial lifted their price objective on Golden Entertainment from $25.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.75.

Golden Entertainment Price Performance

The company has a market cap of $704.77 million, a price-to-earnings ratio of 149.56 and a beta of 1.50. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average price of $27.81 and a two-hundred day moving average price of $26.14.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.10). The business had revenue of $154.82 million during the quarter, compared to the consensus estimate of $157.21 million. Golden Entertainment had a net margin of 0.85% and a return on equity of 1.20%. As a group, equities research analysts anticipate that Golden Entertainment, Inc. will post 0.2 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Monday, December 22nd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, December 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. Golden Entertainment’s dividend payout ratio (DPR) is currently 555.56%.

Institutional Investors Weigh In On Golden Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the company. DAVENPORT & Co LLC boosted its holdings in shares of Golden Entertainment by 2.5% in the 3rd quarter. DAVENPORT & Co LLC now owns 1,521,937 shares of the company’s stock worth $35,692,000 after acquiring an additional 37,055 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Golden Entertainment by 3.8% in the third quarter. Gamco Investors INC. ET AL now owns 901,138 shares of the company’s stock worth $21,249,000 after purchasing an additional 32,992 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Golden Entertainment by 2.9% during the third quarter. Deprince Race & Zollo Inc. now owns 839,494 shares of the company’s stock worth $19,795,000 after purchasing an additional 23,476 shares during the last quarter. Hill Path Capital LP grew its holdings in shares of 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 during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Golden Entertainment by 4.1% in the second quarter. Jennison Associates LLC now owns 543,982 shares of the company’s stock valued at $16,009,000 after buying an additional 21,415 shares in the last quarter. Institutional investors and hedge funds own 70.73% of the company’s stock.

Golden Entertainment Company Profile

Golden Entertainment, Inc is a diversified gaming and hospitality company that operates in the casino, tavern-casino and slot route markets. The company’s core activities encompass the ownership and management of full-service resort casinos, a portfolio of branded neighborhood tavern-casinos and a large slot distribution network. Headquartered in Summerlin, Nevada, Golden Entertainment serves leisure and local gaming customers across multiple Western U.S. markets.

In its casino and tavern-casino segment, Golden Entertainment owns and operates properties such as Bronco Billy’s Casino & Hotel in Cripple Creek, Colorado, along with a collection of PT’s branded venues throughout Southern Nevada.