DAVENPORT & Co LLC Sells 1,175,866 Shares of Golden Entertainment, Inc. $GDEN

DAVENPORT & Co LLC lowered its position in shares of Golden Entertainment, Inc. (NASDAQ:GDEN) by 77.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 346,071 shares of the company’s stock after selling 1,175,866 shares during the quarter. DAVENPORT & Co LLC owned 1.32% of Golden Entertainment worth $9,413,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Golden Entertainment in the second quarter valued at approximately $27,000. Prudential Financial Inc. boosted its position in Golden Entertainment by 6.0% in the second quarter. Prudential Financial Inc. now owns 21,873 shares of the company’s stock worth $644,000 after purchasing an additional 1,235 shares during the last quarter. Legal & General Group Plc boosted its position in Golden Entertainment by 2.5% in the second quarter. Legal & General Group Plc now owns 56,180 shares of the company’s stock worth $1,653,000 after purchasing an additional 1,353 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Golden Entertainment by 168.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $79,000 after purchasing an additional 1,680 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in Golden Entertainment by 3.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 67,588 shares of the company’s stock valued at $1,989,000 after purchasing an additional 2,316 shares during the period. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Golden Entertainment Price Performance

Shares of NASDAQ GDEN opened at $26.42 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of $27.89 and a two-hundred day simple moving average of $26.52. Golden Entertainment, Inc. has a 1-year low of $19.57 and a 1-year high of $32.74. The firm has a market cap of $692.20 million, a price-to-earnings ratio of -105.68 and a beta of 1.41.

Golden Entertainment (NASDAQ:GDEN) last issued its earnings results on Friday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.12). Golden Entertainment had a negative net margin of 0.95% and a positive return on equity of 0.51%. The firm had revenue of $155.63 million during the quarter, compared to the consensus estimate of $166.61 million. Analysts anticipate that Golden Entertainment, Inc. will post 0.2 earnings per share for the current year.

Golden Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, March 18th. Golden Entertainment’s payout ratio is currently -400.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GDEN. Zacks Research upgraded Golden Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Weiss Ratings lowered shares of Golden Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Finally, Citigroup restated a “market perform” rating on shares of Golden Entertainment in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.75.

About Golden Entertainment

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.