Jennison Associates LLC Sells 10,499 Shares of Golden Entertainment, Inc. (NASDAQ:GDEN)

Jennison Associates LLC lowered its stake in shares of Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 530,129 shares of the company's stock after selling 10,499 shares during the quarter. Jennison Associates LLC owned 1.93% of Golden Entertainment worth $16,752,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GDEN. Dimensional Fund Advisors LP lifted its position in shares of Golden Entertainment by 100.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 163,629 shares of the company's stock worth $5,089,000 after purchasing an additional 82,175 shares during the period. AQR Capital Management LLC increased its holdings in shares of Golden Entertainment by 274.1% in the 2nd quarter. AQR Capital Management LLC now owns 61,182 shares of the company's stock worth $1,903,000 after purchasing an additional 44,827 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Golden Entertainment by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company's stock valued at $327,000 after acquiring an additional 355 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Golden Entertainment by 45.1% during the 3rd quarter. SG Americas Securities LLC now owns 12,251 shares of the company's stock valued at $389,000 after purchasing an additional 3,805 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Golden Entertainment by 11.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 30,123 shares of the company's stock worth $958,000 after purchasing an additional 3,160 shares in the last quarter. 70.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Terrence Wright sold 16,586 shares of the company's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $31.26, for a total transaction of $518,478.36. Following the completion of the sale, the director now directly owns 61,616 shares of the company's stock, valued at $1,926,116.16. This represents a 21.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 29.10% of the company's stock.

Golden Entertainment Stock Down 0.5 %

Shares of GDEN stock traded down $0.16 during trading hours on Thursday, reaching $32.67. The company had a trading volume of 143,926 shares, compared to its average volume of 132,359. Golden Entertainment, Inc. has a twelve month low of $27.42 and a twelve month high of $39.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 1.11. The company has a market capitalization of $896.11 million, a P/E ratio of 26.35 and a beta of 2.21. The stock's fifty day simple moving average is $32.37 and its 200 day simple moving average is $31.63.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.08. Golden Entertainment had a return on equity of 0.69% and a net margin of 5.23%. The firm had revenue of $161.23 million for the quarter, compared to analysts' expectations of $162.22 million. During the same period last year, the business posted ($0.02) earnings per share. As a group, sell-side analysts expect that Golden Entertainment, Inc. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GDEN has been the topic of several recent research reports. JMP Securities reaffirmed a "market outperform" rating and set a $36.00 price objective on shares of Golden Entertainment in a report on Thursday, January 16th. StockNews.com lowered Golden Entertainment from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Wells Fargo & Company started coverage on shares of Golden Entertainment in a research note on Monday, December 16th. They issued an "overweight" rating and a $38.00 price objective on the stock. Macquarie reduced their price target on Golden Entertainment from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Finally, Jefferies Financial Group lifted their price objective on Golden Entertainment from $31.00 to $32.00 and gave the stock a "hold" rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Golden Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $36.57.

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.