Golden Entertainment (NASDAQ:GDEN) Downgraded to Hold Rating by StockNews.com

Golden Entertainment (NASDAQ:GDEN - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Tuesday.

A number of other analysts also recently commented on the company. Wells Fargo & Company initiated coverage on Golden Entertainment in a report on Monday. They set an "overweight" rating and a $38.00 price objective for the company. JMP Securities raised their price objective on Golden Entertainment from $35.00 to $36.00 and gave the stock a "market outperform" rating in a report on Monday, November 25th. Truist Financial cut their price target on shares of Golden Entertainment from $38.00 to $36.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Macquarie decreased their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Finally, B. Riley cut their target price on shares of Golden Entertainment from $44.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.33.

Golden Entertainment Trading Down 0.9 %

Shares of GDEN traded down $0.30 during mid-day trading on Tuesday, hitting $33.06. The company had a trading volume of 200,666 shares, compared to its average volume of 218,095. Golden Entertainment has a 1-year low of $27.42 and a 1-year high of $41.98. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. The business's 50-day simple moving average is $31.91 and its 200-day simple moving average is $31.12. The stock has a market cap of $906.80 million, a PE ratio of 26.66 and a beta of 2.22.

Insider Buying and Selling

In other news, Director Mark A. Lipparelli sold 773 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $33.32, for a total transaction of $25,756.36. Following the transaction, the director now owns 82,740 shares of the company's stock, valued at approximately $2,756,896.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 29.10% of the company's stock.

Institutional Trading of Golden Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of GDEN. William Blair Investment Management LLC raised its position in shares of Golden Entertainment by 132.1% during the 2nd quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company's stock valued at $46,251,000 after acquiring an additional 846,269 shares in the last quarter. Systematic Financial Management LP grew its position in shares of Golden Entertainment by 78.2% during the 2nd quarter. Systematic Financial Management LP now owns 283,020 shares of the company's stock valued at $8,805,000 after buying an additional 124,218 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Golden Entertainment by 100.9% during the second quarter. Dimensional Fund Advisors LP now owns 163,629 shares of the company's stock worth $5,089,000 after acquiring an additional 82,175 shares during the period. Peregrine Capital Management LLC lifted its holdings in Golden Entertainment by 43.0% in the second quarter. Peregrine Capital Management LLC now owns 248,875 shares of the company's stock worth $7,743,000 after acquiring an additional 74,867 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in Golden Entertainment in the second quarter valued at approximately $1,848,000. Institutional investors and hedge funds own 70.73% of the company's stock.

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.

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