Golden Entertainment (NASDAQ:GDEN - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Friday.
Several other research analysts have also commented on the company. Macquarie reissued an "outperform" rating and issued a $40.00 price target on shares of Golden Entertainment in a research report on Friday. JMP Securities reaffirmed a "market outperform" rating and issued a $36.00 price objective on shares of Golden Entertainment in a research report on Thursday, January 16th. Wells Fargo & Company assumed coverage on shares of Golden Entertainment in a research report on Monday, December 16th. They set an "overweight" rating and a $38.00 target price for the company. Finally, Jefferies Financial Group increased their price objective on Golden Entertainment from $31.00 to $32.00 and gave the company a "hold" rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.86.
View Our Latest Analysis on GDEN
Golden Entertainment Stock Down 2.7 %
Shares of GDEN traded down $0.83 during mid-day trading on Friday, hitting $30.01. The company's stock had a trading volume of 247,217 shares, compared to its average volume of 178,174. The firm has a market capitalization of $823.14 million, a price-to-earnings ratio of 24.20 and a beta of 2.21. The company's 50-day moving average is $32.24 and its 200-day moving average is $31.93. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. Golden Entertainment has a 52-week low of $27.42 and a 52-week high of $36.92.
Insiders Place Their Bets
In other news, Director Terrence Wright sold 16,586 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 61,616 shares in the company, valued at $1,926,116.16. This trade 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 through the SEC website. 29.10% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Golden Entertainment
Several hedge funds and other institutional investors have recently bought and sold shares of GDEN. Meeder Asset Management Inc. acquired a new stake in Golden Entertainment during the 3rd quarter valued at approximately $42,000. Lazard Asset Management LLC boosted its holdings in Golden Entertainment by 405.7% in the fourth quarter. Lazard Asset Management LLC now owns 1,871 shares of the company's stock valued at $59,000 after purchasing an additional 1,501 shares during the last quarter. BNP Paribas Financial Markets grew its position in Golden Entertainment by 7.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company's stock worth $143,000 after purchasing an additional 317 shares during the period. Two Sigma Securities LLC raised its stake in shares of Golden Entertainment by 10.9% during the 4th quarter. Two Sigma Securities LLC now owns 7,219 shares of the company's stock valued at $228,000 after buying an additional 709 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Golden Entertainment by 16.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,678 shares of the company's stock valued at $243,000 after buying an additional 1,085 shares during the period. Institutional investors and hedge funds own 70.73% of the company's stock.
About Golden Entertainment
(
Get 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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