JMP Securities Reaffirms Market Outperform Rating for Golden Entertainment (NASDAQ:GDEN)

JMP Securities reaffirmed their market outperform rating on shares of Golden Entertainment (NASDAQ:GDEN - Free Report) in a report issued on Thursday,Benzinga reports. JMP Securities currently has a $36.00 price objective on the stock.

Several other equities analysts have also recently commented on GDEN. Truist Financial cut their price target on Golden Entertainment from $38.00 to $36.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Macquarie cut their price objective on Golden Entertainment from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. B. Riley decreased their price objective on shares of Golden Entertainment from $44.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, September 23rd. Wells Fargo & Company initiated coverage on shares of Golden Entertainment in a research report on Monday, December 16th. They issued an "overweight" rating and a $38.00 price objective for the company. Finally, StockNews.com lowered shares of Golden Entertainment from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.57.

Golden Entertainment Stock Down 0.8 %

Shares of Golden Entertainment stock traded down $0.25 during trading on Thursday, hitting $31.97. 237,820 shares of the stock traded hands, compared to its average volume of 146,632. The stock has a market cap of $876.91 million, a P/E ratio of 25.78 and a beta of 2.22. The company has a fifty day moving average price of $32.54 and a two-hundred day moving average price of $31.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 1.11. Golden Entertainment has a twelve month low of $27.42 and a twelve month high of $40.55.

Golden Entertainment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Friday, December 20th. Golden Entertainment's dividend payout ratio is presently 80.65%.

Insider Buying and Selling

In related news, Director Terrence Wright sold 16,586 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $31.26, for a total transaction of $518,478.36. Following the transaction, the director now directly owns 61,616 shares in the company, valued at approximately $1,926,116.16. The trade was a 21.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Golden Entertainment

Hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new stake in shares of Golden Entertainment during the third quarter worth approximately $42,000. Quarry LP bought a new stake in Golden Entertainment in the 2nd quarter valued at $52,000. BNP Paribas Financial Markets boosted its stake in Golden Entertainment by 7.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company's stock valued at $143,000 after purchasing an additional 317 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Golden Entertainment during the second quarter worth approximately $143,000. Finally, XTX Topco Ltd bought a new position in shares of Golden Entertainment during the second quarter worth approximately $230,000. 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.