Golden Entertainment (NASDAQ:GDEN) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Golden Entertainment (NASDAQ:GDEN) from a buy rating to a hold rating in a report released on Tuesday morning.

GDEN has been the subject of a number of other reports. JMP Securities increased their price objective on shares of Golden Entertainment from $35.00 to $36.00 and gave the company a “market outperform” rating in a report on Monday, November 25th. Truist Financial cut their target price on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. B. Riley reduced their price target on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Macquarie dropped their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Wells Fargo & Company initiated coverage on Golden Entertainment in a research report on Monday. They set an “overweight” rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Golden Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $37.33.

Golden Entertainment Stock Performance

NASDAQ:GDEN opened at $31.07 on Tuesday. The stock has a 50-day moving average price of $32.03 and a 200 day moving average price of $31.14. The stock has a market capitalization of $852.22 million, a P/E ratio of 25.06 and a beta of 2.22. Golden Entertainment has a 12-month low of $27.42 and a 12-month high of $41.98. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 3.22%. Golden Entertainment’s dividend payout ratio (DPR) is currently 80.65%.

Institutional Trading of Golden Entertainment

A number of large investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in shares of Golden Entertainment in the 2nd quarter valued at about $34,000. nVerses Capital LLC purchased a new stake in Golden Entertainment during the second quarter valued at approximately $37,000. Meeder Asset Management Inc. bought a new stake in shares of Golden Entertainment in the 3rd quarter valued at approximately $42,000. Quarry LP purchased a new position in shares of Golden Entertainment in the 2nd quarter worth approximately $52,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Golden Entertainment during the 2nd quarter valued at approximately $54,000. 70.73% of the stock is currently owned by institutional investors.

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.