Golden Entertainment (NASDAQ:GDEN) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Golden Entertainment, Inc. (NASDAQ:GDEN) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $32.31 and traded as high as $34.38. Golden Entertainment shares last traded at $34.09, with a volume of 208,081 shares changing hands.

Analyst Ratings Changes

A number of research firms have weighed in on GDEN. Macquarie cut their price target on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group increased their price target on shares of Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Truist Financial cut their price target 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. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, 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 target on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.57.

Golden Entertainment Stock Up 0.6 %

The firm’s 50-day moving average price is $32.31 and its 200-day moving average price is $31.71. The company has a market cap of $935.05 million, a price-to-earnings ratio of 27.49 and a beta of 2.21. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03.

Insider Transactions at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $31.26, for a total transaction of $518,478.36. Following the completion of the sale, the director now directly owns 61,616 shares of the company’s stock, valued at approximately $1,926,116.16. This trade represents a 21.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Golden Entertainment

A number of large investors have recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in Golden Entertainment by 5.8% during the 4th quarter. Northern Trust Corp now owns 197,500 shares of the company’s stock valued at $6,241,000 after purchasing an additional 10,903 shares in the last quarter. III Capital Management grew its holdings in Golden Entertainment by 26.9% during the 4th quarter. III Capital Management now owns 52,028 shares of the company’s stock valued at $1,644,000 after purchasing an additional 11,014 shares in the last quarter. Two Sigma Securities LLC grew its holdings in Golden Entertainment by 10.9% during the 4th quarter. Two Sigma Securities LLC now owns 7,219 shares of the company’s stock valued at $228,000 after purchasing an additional 709 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Golden Entertainment by 16.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,678 shares of the company’s stock valued at $243,000 after purchasing an additional 1,085 shares in the last quarter. Finally, MGO One Seven LLC grew its holdings in Golden Entertainment by 28.8% during the 4th quarter. MGO One Seven LLC now owns 12,364 shares of the company’s stock valued at $391,000 after purchasing an additional 2,761 shares in the last quarter. 70.73% of the stock is owned by institutional investors and hedge funds.

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.