Golden Entertainment (NASDAQ:GDEN) Sees Unusually-High Trading Volume – Should You Buy?

Golden Entertainment, Inc. (NASDAQ:GDEN) saw strong trading volume on Tuesday . 232,764 shares traded hands during mid-day trading, an increase of 4% from the previous session’s volume of 224,590 shares.The stock last traded at $28.57 and had previously closed at $28.54.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings lowered Golden Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Citigroup restated a “market perform” rating on shares of Golden Entertainment in a research note on Tuesday, March 10th. Finally, Zacks Research upgraded Golden Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Golden Entertainment currently has a consensus rating of “Hold” and an average target price of $32.75.

Golden Entertainment Stock Down 0.2%

The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $27.88 and a 200-day moving average price of $26.96. The firm has a market capitalization of $751.63 million, a PE ratio of -113.88 and a beta of 1.40.

Golden Entertainment (NASDAQ:GDEN) last posted its quarterly earnings results on Friday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12). The company had revenue of $155.63 million during the quarter, compared to analysts’ expectations of $166.61 million. Golden Entertainment had a negative net margin of 0.95% and a positive return on equity of 0.51%. Equities research analysts forecast that Golden Entertainment, Inc. will post 0.72 earnings per share for the current fiscal year.

Golden Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. Golden Entertainment’s dividend payout ratio is -400.00%.

Institutional Investors Weigh In On Golden Entertainment

A number of large investors have recently made changes to their positions in GDEN. Quinn Opportunity Partners LLC purchased a new position in Golden Entertainment in the fourth quarter worth approximately $23,812,000. Millennium Management LLC grew its position in Golden Entertainment by 461.8% in the fourth quarter. Millennium Management LLC now owns 533,217 shares of the company’s stock worth $14,498,000 after acquiring an additional 438,297 shares during the period. Nantahala Capital Management LLC purchased a new position in Golden Entertainment in the fourth quarter worth approximately $10,013,000. Gamco Investors INC. ET AL grew its position in Golden Entertainment by 25.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,134,462 shares of the company’s stock worth $30,846,000 after acquiring an additional 233,324 shares during the period. Finally, AQR Arbitrage LLC purchased a new position in Golden Entertainment in the fourth quarter worth approximately $5,108,000. 70.73% of the stock is currently owned by hedge funds and other 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.