Golden Entertainment (NASDAQ:GDEN) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) saw an uptick in trading volume on Friday . 388,316 shares were traded during mid-day trading, an increase of 60% from the previous session’s volume of 242,643 shares.The stock last traded at $27.0910 and had previously closed at $27.33.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Golden Entertainment in a report on Monday, December 29th. Zacks Research raised shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Truist Financial increased their price objective on Golden Entertainment from $25.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Citizens Jmp lowered Golden Entertainment from a “market outperform” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Wells Fargo & Company restated a “sell” rating and issued a $30.00 target price (down from $34.00) on shares of Golden Entertainment in a research note on Thursday, November 6th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.75.

Golden Entertainment Price Performance

The company has a market capitalization of $722.31 million, a PE ratio of 153.28 and a beta of 1.50. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.96. The firm’s 50-day moving average is $28.03 and its 200-day moving average is $26.27.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.10). Golden Entertainment had a net margin of 0.85% and a return on equity of 1.20%. The firm had revenue of $154.82 million for the quarter, compared to analysts’ expectations of $157.21 million. Equities analysts predict that Golden Entertainment, Inc. will post 0.2 earnings per share for the current fiscal year.

Golden Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Monday, December 22nd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $1.00 annualized dividend and a yield of 3.6%. Golden Entertainment’s dividend payout ratio is currently 555.56%.

Institutional Investors Weigh In On Golden Entertainment

A number of hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Golden Entertainment during the 2nd quarter valued at $27,000. Parallel Advisors LLC purchased a new stake in Golden Entertainment during the second quarter valued at about $35,000. Tower Research Capital LLC TRC grew its stake in shares of Golden Entertainment by 168.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $79,000 after buying an additional 1,680 shares during the last quarter. Creative Planning purchased a new position in shares of Golden Entertainment in the second quarter worth about $201,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Golden Entertainment in the 2nd quarter valued at about $210,000. 70.73% of the stock is currently owned by institutional investors.

Golden Entertainment Company Profile

Golden Entertainment, Inc is a diversified gaming and hospitality company that operates in the casino, tavern-casino and slot route markets. The company’s core activities encompass the ownership and management of full-service resort casinos, a portfolio of branded neighborhood tavern-casinos and a large slot distribution network. Headquartered in Summerlin, Nevada, Golden Entertainment serves leisure and local gaming customers across multiple Western U.S. markets.

In its casino and tavern-casino segment, Golden Entertainment owns and operates properties such as Bronco Billy’s Casino & Hotel in Cripple Creek, Colorado, along with a collection of PT’s branded venues throughout Southern Nevada.