Wells Fargo & Company Cuts Golden Entertainment (NASDAQ:GDEN) Price Target to $34.00

Golden Entertainment (NASDAQ:GDEN) had its price objective trimmed by Wells Fargo & Company from $36.00 to $34.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms also recently commented on GDEN. Citigroup restated an “outperform” rating on shares of Golden Entertainment in a research note on Friday, July 18th. Macquarie reduced their price objective on shares of Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Truist Financial downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $36.00 to $34.00 in a research note on Wednesday, July 16th. JMP Securities reduced their price objective on shares of Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating on the stock in a research note on Friday, July 18th. Finally, Wall Street Zen upgraded shares of Golden Entertainment from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Golden Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Golden Entertainment Trading Down 1.8%

GDEN stock opened at $25.28 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.87 and a current ratio of 1.12. The company’s 50-day simple moving average is $28.74 and its 200 day simple moving average is $28.58. Golden Entertainment has a 52 week low of $22.66 and a 52 week high of $35.49. The company has a market capitalization of $661.32 million, a PE ratio of 46.82 and a beta of 1.83.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. The business had revenue of $163.62 million for the quarter, compared to the consensus estimate of $169.70 million. As a group, sell-side analysts anticipate that Golden Entertainment will post 0.2 earnings per share for the current year.

Golden Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Thursday, September 25th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, September 25th. Golden Entertainment’s dividend payout ratio is presently 185.19%.

Institutional Investors Weigh In On Golden Entertainment

A number of hedge funds have recently made changes to their positions in the stock. Beacon Investment Advisors LLC boosted its stake in shares of Golden Entertainment by 0.8% in the 4th quarter. Beacon Investment Advisors LLC now owns 44,559 shares of the company’s stock valued at $1,408,000 after purchasing an additional 333 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Golden Entertainment by 3.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 11,792 shares of the company’s stock valued at $346,000 after purchasing an additional 397 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Golden Entertainment by 1.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 26,706 shares of the company’s stock valued at $705,000 after purchasing an additional 439 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Golden Entertainment by 0.4% in the 1st quarter. Invesco Ltd. now owns 109,805 shares of the company’s stock valued at $2,898,000 after purchasing an additional 479 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Golden Entertainment by 0.3% in the 1st quarter. Gabelli Funds LLC now owns 173,000 shares of the company’s stock valued at $4,565,000 after purchasing an additional 500 shares in the last quarter. 70.73% of the stock is currently 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.