Golden Entertainment (NASDAQ:GDEN) Trading Up 5.8% – Still a Buy?

Golden Entertainment, Inc. (NASDAQ:GDEN)’s share price traded up 5.8% on Monday . The stock traded as high as $27.43 and last traded at $27.70. 22,176 shares traded hands during trading, a decline of 88% from the average session volume of 186,763 shares. The stock had previously closed at $26.17.

Analyst Ratings Changes

A number of analysts recently issued reports on GDEN shares. Jefferies Financial Group boosted their price target on Golden Entertainment from $31.00 to $32.00 and gave the company a “hold” rating in a report on Friday, January 3rd. Macquarie reiterated an “outperform” rating and issued a $40.00 target price on shares of Golden Entertainment in a report on Friday, February 28th. Wells Fargo & Company initiated coverage on Golden Entertainment in a research report on Monday, December 16th. They set an “overweight” rating and a $38.00 price target on the stock. StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, JMP Securities reiterated a “market outperform” rating and set a $36.00 target price on shares of Golden Entertainment in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Golden Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $36.86.

Golden Entertainment Price Performance

The firm has a market capitalization of $720.70 million, a P/E ratio of 21.92 and a beta of 2.29. The stock’s fifty day simple moving average is $31.61 and its 200 day simple moving average is $31.74. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03.

Golden Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.00 annualized dividend and a dividend yield of 3.68%. Golden Entertainment’s dividend payout ratio (DPR) is presently 59.88%.

Insider Activity at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $31.26, for a total transaction of $518,478.36. Following the transaction, the director now directly owns 61,616 shares in the company, valued at $1,926,116.16. The trade was a 21.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 29.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Golden Entertainment

A number of large investors have recently modified their holdings of GDEN. Meeder Asset Management Inc. acquired a new stake in Golden Entertainment in the 3rd quarter worth approximately $42,000. Lazard Asset Management LLC lifted its stake in shares of Golden Entertainment by 405.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,871 shares of the company’s stock worth $59,000 after buying an additional 1,501 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Golden Entertainment by 7.6% during the third quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock valued at $143,000 after buying an additional 317 shares during the last quarter. Two Sigma Securities LLC increased its position in shares of Golden Entertainment by 10.9% in the 4th quarter. Two Sigma Securities LLC now owns 7,219 shares of the company’s stock valued at $228,000 after acquiring an additional 709 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Golden Entertainment by 16.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,678 shares of the company’s stock worth $243,000 after acquiring an additional 1,085 shares during the last quarter. Hedge funds and other institutional investors own 70.73% of the company’s stock.

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.