Golden Entertainment, Inc. (NASDAQ:GDEN) Sees Large Decrease in Short Interest

Golden Entertainment, Inc. (NASDAQ:GDEN) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 708,028 shares, a decline of 17.2% from the November 30th total of 855,088 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average daily volume of 322,238 shares, the short-interest ratio is currently 2.2 days. Based on an average daily volume of 322,238 shares, the short-interest ratio is currently 2.2 days. Approximately 3.8% of the company’s shares are short sold.

Institutional Investors Weigh In On Golden Entertainment

Several institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue increased its position in shares of Golden Entertainment by 3.5% during the second quarter. State of Alaska Department of Revenue now owns 11,792 shares of the company’s stock worth $346,000 after purchasing an additional 397 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Golden Entertainment by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 27,250 shares of the company’s stock worth $802,000 after acquiring an additional 544 shares during the period. Raymond James Financial Inc. acquired a new position in Golden Entertainment in the 2nd quarter valued at about $27,000. Parallel Advisors LLC purchased a new stake in shares of Golden Entertainment in the 2nd quarter valued at approximately $35,000. Finally, Prudential Financial Inc. increased its holdings in shares of Golden Entertainment by 6.0% during the 2nd quarter. Prudential Financial Inc. now owns 21,873 shares of the company’s stock worth $644,000 after buying an additional 1,235 shares during the last quarter. 70.73% of the stock is currently owned by institutional investors and hedge funds.

Golden Entertainment Stock Performance

GDEN stock traded down $0.01 during trading on Wednesday, reaching $27.19. The company had a trading volume of 142,878 shares, compared to its average volume of 251,546. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.02 and a current ratio of 1.10. The firm has a 50-day simple moving average of $26.97 and a 200-day simple moving average of $26.51. The company has a market cap of $711.83 million, a price-to-earnings ratio of 151.06 and a beta of 1.52. Golden Entertainment has a twelve month low of $19.57 and a twelve month high of $35.49.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.10). The firm had revenue of $154.82 million during the quarter, compared to analysts’ expectations of $157.21 million. Golden Entertainment had a return on equity of 1.20% and a net margin of 0.85%. As a group, sell-side analysts expect that Golden Entertainment will post 0.2 earnings per share for the current year.

Golden Entertainment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Monday, December 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. Golden Entertainment’s payout ratio is currently 555.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JMP Securities cut their price target on shares of Golden Entertainment from $35.00 to $34.00 and set a “market outperform” rating on the stock in a report on Tuesday, September 16th. Zacks Research raised Golden Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Golden Entertainment in a report on Monday. Truist Financial raised their target price on shares of Golden Entertainment from $25.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Finally, Citizens Jmp downgraded shares of Golden Entertainment from a “market outperform” rating to a “hold” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.60.

About Golden Entertainment

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.