Macquarie Lowers Golden Entertainment (NASDAQ:GDEN) Price Target to $38.00

Golden Entertainment (NASDAQ:GDEN) had its price target dropped by analysts at Macquarie from $39.00 to $38.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price target indicates a potential upside of 17.98% from the company’s previous close.

A number of other brokerages also recently issued reports on GDEN. Truist Financial reduced their price objective on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. 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 research note on Monday, September 23rd. StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, JMP Securities dropped their price objective on Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating for the company in a research report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Golden Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Golden Entertainment Stock Performance

Shares of Golden Entertainment stock traded up $1.43 during trading on Friday, reaching $32.21. The company’s stock had a trading volume of 326,567 shares, compared to its average volume of 150,185. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $31.02 and its 200-day moving average price is $30.65. Golden Entertainment has a 52 week low of $27.42 and a 52 week high of $42.14. The firm has a market cap of $912.03 million, a PE ratio of 25.98 and a beta of 2.24.

Golden Entertainment (NASDAQ:GDEN) last released its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. The company had revenue of $167.33 million for the quarter, compared to the consensus estimate of $176.34 million. Equities analysts forecast that Golden Entertainment will post 0.14 earnings per share for the current year.

Insider Activity at Golden Entertainment

In other news, Director Mark A. Lipparelli sold 773 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $33.32, for a total value of $25,756.36. Following the completion of the transaction, the director now directly owns 82,740 shares in the company, valued at approximately $2,756,896.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Golden Entertainment

A number of hedge funds have recently made changes to their positions in GDEN. William Blair Investment Management LLC increased its position in shares of Golden Entertainment by 21.1% in the first quarter. William Blair Investment Management LLC now owns 640,420 shares of the company’s stock valued at $23,587,000 after acquiring an additional 111,701 shares during the period. Systematic Financial Management LP boosted its stake 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 purchasing an additional 124,218 shares in the last quarter. Peregrine Capital Management LLC raised its position in shares of Golden Entertainment by 43.0% in the 2nd 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 in the last quarter. SG Americas Securities LLC purchased a new stake in Golden Entertainment in the second quarter worth $263,000. Finally, Quest Partners LLC purchased a new stake in shares of Golden Entertainment in the 2nd quarter worth about $1,180,000. 70.73% of the stock is currently owned by institutional investors.

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.