Golden Entertainment (NASDAQ:GDEN) Receives “Market Outperform” Rating from JMP Securities

Golden Entertainment (NASDAQ:GDEN)‘s stock had its “market outperform” rating reissued by JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $36.00 price target on the stock. JMP Securities’ price target indicates a potential upside of 13.89% from the stock’s previous close.

Several other equities research analysts have also weighed in on GDEN. Wells Fargo & Company began coverage on shares of Golden Entertainment in a research note on Monday, December 16th. They set an “overweight” rating and a $38.00 price objective on the stock. Jefferies Financial Group lifted their price target on Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Macquarie dropped their price objective on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, B. Riley reduced their price target on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

Golden Entertainment Stock Down 1.9 %

GDEN traded down $0.61 on Thursday, reaching $31.61. The company’s stock had a trading volume of 19,046 shares, compared to its average volume of 124,262. Golden Entertainment has a 1 year low of $27.42 and a 1 year high of $40.55. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03. The stock has a market cap of $867.03 million, a price-to-earnings ratio of 25.49 and a beta of 2.22. The business’s 50 day moving average is $32.52 and its 200 day moving average is $31.31.

Insider Activity at Golden Entertainment

In other Golden Entertainment news, Director Terrence Wright sold 16,586 shares of the 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 approximately $1,926,116.16. This trade represents a 21.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 29.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of Golden Entertainment by 9.1% in the 2nd quarter. Rhumbline Advisers now owns 52,360 shares of the company’s stock worth $1,629,000 after purchasing an additional 4,379 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in Golden Entertainment in the second quarter valued at approximately $1,848,000. Dimensional Fund Advisors LP raised its position in Golden Entertainment by 100.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 163,629 shares of the company’s stock valued at $5,089,000 after purchasing an additional 82,175 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Golden Entertainment in the second quarter worth about $228,000. Finally, XTX Topco Ltd bought a new position in Golden Entertainment in the 2nd quarter worth about $230,000. Institutional investors own 70.73% of the company’s stock.

Golden Entertainment Company Profile

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.