Bank of New York Mellon Corp boosted its holdings in Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) by 37.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 241,658 shares of the company's stock after purchasing an additional 66,061 shares during the period. Bank of New York Mellon Corp owned about 0.88% of Golden Entertainment worth $7,636,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GDEN. DAVENPORT & Co LLC raised its stake in shares of Golden Entertainment by 26.6% in the 4th quarter. DAVENPORT & Co LLC now owns 1,293,163 shares of the company's stock valued at $40,864,000 after purchasing an additional 271,782 shares in the last quarter. Systematic Financial Management LP raised its stake in Golden Entertainment by 24.5% during the third quarter. Systematic Financial Management LP now owns 352,227 shares of the company's stock valued at $11,197,000 after buying an additional 69,207 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Golden Entertainment by 16.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,709 shares of the company's stock worth $8,860,000 after buying an additional 38,385 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Golden Entertainment in the 3rd quarter worth approximately $875,000. Finally, Geode Capital Management LLC increased its holdings in shares of Golden Entertainment by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 587,006 shares of the company's stock valued at $18,664,000 after acquiring an additional 24,264 shares during the last quarter. Hedge funds and other institutional investors own 70.73% of the company's stock.
Golden Entertainment Stock Performance
GDEN stock traded up $1.12 during trading on Wednesday, reaching $28.30. 199,714 shares of the company's stock were exchanged, compared to its average volume of 219,802. Golden Entertainment, Inc. has a 1-year low of $25.17 and a 1-year high of $36.92. The firm has a market cap of $750.26 million, a PE ratio of 22.84 and a beta of 2.29. The company's fifty day moving average price is $31.44 and its 200-day moving average price is $31.66. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75.
Golden Entertainment Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Friday, March 21st. Golden Entertainment's dividend payout ratio is currently 59.88%.
Analyst Ratings Changes
Several research analysts have recently commented on GDEN shares. Macquarie reaffirmed an "outperform" rating and issued a $40.00 price target on shares of Golden Entertainment in a report on Friday, February 28th. Wells Fargo & Company initiated coverage on Golden Entertainment in a report on Monday, December 16th. They set an "overweight" rating and a $38.00 target price for the company. JMP Securities reissued a "market outperform" rating and issued a $36.00 price target on shares of Golden Entertainment in a report on Thursday, January 16th. StockNews.com downgraded Golden Entertainment from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group raised their target price on Golden Entertainment from $31.00 to $32.00 and gave the company a "hold" rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.86.
Get Our Latest Stock Report on Golden Entertainment
Insider Activity
In other Golden Entertainment news, Director Terrence Wright sold 16,586 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $31.26, for a total value of $518,478.36. Following the completion of the sale, the director now directly owns 61,616 shares in the company, valued at $1,926,116.16. This represents a 21.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 29.10% of the company's stock.
Golden Entertainment Company Profile
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Free Report)
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.
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