Golden Entertainment (NASDAQ:GDEN) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday.
Several other research analysts have also recently issued reports on GDEN. Deutsche Bank reaffirmed a “buy” rating on shares of Golden Entertainment in a report on Thursday, October 11th. Jefferies Financial Group set a $39.00 price target on Golden Entertainment and gave the company a “buy” rating in a report on Monday, September 24th. TheStreet downgraded Golden Entertainment from a “b” rating to a “c” rating in a report on Wednesday, August 15th. Zacks Investment Research raised Golden Entertainment from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, ValuEngine downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.33.
Golden Entertainment stock traded down $0.64 during midday trading on Friday, reaching $18.63. 279,988 shares of the company’s stock were exchanged, compared to its average volume of 377,593. Golden Entertainment has a 52 week low of $16.34 and a 52 week high of $34.75. The company has a debt-to-equity ratio of 2.69, a quick ratio of 2.29 and a current ratio of 2.38. The stock has a market capitalization of $512.55 million, a P/E ratio of 54.79, a PEG ratio of 2.42 and a beta of 0.92.
In related news, Director Lyle Berman sold 141,685 shares of the stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $24.50, for a total transaction of $3,471,282.50. Following the completion of the sale, the director now directly owns 898,293 shares of the company’s stock, valued at $22,008,178.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Stephen A. Arcana sold 8,656 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $28.31, for a total value of $245,051.36. Following the sale, the chief operating officer now directly owns 68,434 shares of the company’s stock, valued at $1,937,366.54. The disclosure for this sale can be found here. Insiders sold 210,024 shares of company stock valued at $5,390,719 over the last three months. Corporate insiders own 33.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its position in Golden Entertainment by 196.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 61,142 shares of the company’s stock worth $1,421,000 after acquiring an additional 40,542 shares in the last quarter. Northern Trust Corp raised its position in Golden Entertainment by 56.8% in the first quarter. Northern Trust Corp now owns 199,196 shares of the company’s stock worth $4,627,000 after acquiring an additional 72,175 shares in the last quarter. BlackRock Inc. raised its position in Golden Entertainment by 99.8% in the first quarter. BlackRock Inc. now owns 1,088,784 shares of the company’s stock worth $25,292,000 after acquiring an additional 543,871 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Golden Entertainment in the first quarter worth $448,000. Finally, UBS Group AG raised its position in Golden Entertainment by 519.6% in the first quarter. UBS Group AG now owns 44,193 shares of the company’s stock worth $1,026,000 after acquiring an additional 37,061 shares in the last quarter. 63.45% of the stock is owned by hedge funds and other institutional investors.
About Golden Entertainment
Golden Entertainment, Inc, together with its subsidiaries, focuses on distributed gaming, and resort casino operations in the United States. The Distributed Gaming segment is involved in the installation, maintenance, and operation of slots and amusement devices in non-casino locations, such as grocery stores, convenience stores, restaurants, bars, taverns, and liquor stores; and operation of branded taverns targeting local patrons primarily in the greater Las Vegas, Nevada metropolitan area.
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