Golden Entertainment (NASDAQ:GDEN) Sets New 1-Year Low at $30.35

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $30.35 and last traded at $30.59, with a volume of 215320 shares trading hands. The stock had previously closed at $30.83.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JMP Securities reduced their target price on shares of Golden Entertainment from $48.00 to $45.00 and set a “market outperform” rating on the stock in a report on Friday, March 1st. B. Riley started coverage on Golden Entertainment in a research note on Friday, April 26th. They set a “buy” rating and a $46.00 target price for the company. StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Finally, Truist Financial dropped their price target on Golden Entertainment from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd.

Golden Entertainment Price Performance

The company’s 50 day moving average is $34.21 and its 200 day moving average is $36.48. The stock has a market cap of $887.32 million, a price-to-earnings ratio of 3.72 and a beta of 2.26. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.35 and a quick ratio of 2.30.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The business had revenue of $230.69 million for the quarter, compared to analysts’ expectations of $228.75 million. Golden Entertainment had a return on equity of 6.40% and a net margin of 24.28%. Research analysts forecast that Golden Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

Golden Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 18th were issued a $0.25 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.26%. Golden Entertainment’s dividend payout ratio (DPR) is 12.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new position in shares of Golden Entertainment in the 3rd quarter valued at approximately $35,680,000. Gamco Investors INC. ET AL boosted its stake in Golden Entertainment by 156.8% during the 3rd quarter. Gamco Investors INC. ET AL now owns 609,050 shares of the company’s stock valued at $20,817,000 after acquiring an additional 371,850 shares during the last quarter. Jennison Associates LLC increased its position in shares of Golden Entertainment by 31.4% in the 1st quarter. Jennison Associates LLC now owns 545,014 shares of the company’s stock worth $20,073,000 after purchasing an additional 130,204 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Golden Entertainment by 83.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 251,299 shares of the company’s stock valued at $10,034,000 after purchasing an additional 114,454 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of Golden Entertainment by 21.1% during the first quarter. William Blair Investment Management LLC now owns 640,420 shares of the company’s stock worth $23,587,000 after purchasing an additional 111,701 shares during the last quarter. 70.73% of the stock is owned by institutional investors and hedge funds.

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.