BidaskClub cut shares of Golden Entertainment (NASDAQ:GDEN) from a buy rating to a hold rating in a research note released on Wednesday morning.
Several other analysts have also recently weighed in on GDEN. TheStreet raised shares of Golden Entertainment from a c rating to a b- rating in a research note on Wednesday, November 8th. Macquarie began coverage on shares of Golden Entertainment in a research note on Wednesday, October 25th. They set an outperform rating and a $35.00 price objective on the stock. Finally, Jefferies Group began coverage on shares of Golden Entertainment in a research note on Thursday, January 18th. They set a buy rating and a $38.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $36.50.
Shares of Golden Entertainment (NASDAQ GDEN) opened at $28.74 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.52 and a current ratio of 1.59. The firm has a market cap of $756.47, a PE ratio of 26.13 and a beta of 0.19. Golden Entertainment has a 52 week low of $11.12 and a 52 week high of $34.75.
In other news, Chairman Blake L. Sartini sold 953,506 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $26.64, for a total transaction of $25,401,399.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lyle Berman sold 750,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $26.64, for a total transaction of $19,980,000.00. Following the sale, the director now directly owns 1,642,841 shares in the company, valued at $43,765,284.24. The disclosure for this sale can be found here. Insiders have sold 5,750,000 shares of company stock worth $153,180,000 over the last ninety days. Insiders own 52.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nationwide Fund Advisors grew its stake in shares of Golden Entertainment by 11.8% during the second quarter. Nationwide Fund Advisors now owns 6,360 shares of the company’s stock valued at $132,000 after purchasing an additional 671 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Golden Entertainment during the fourth quarter valued at approximately $168,000. Bessemer Group Inc. grew its stake in shares of Golden Entertainment by 194.4% during the fourth quarter. Bessemer Group Inc. now owns 5,300 shares of the company’s stock valued at $173,000 after purchasing an additional 3,500 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Golden Entertainment during the fourth quarter valued at approximately $180,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Golden Entertainment by 122.9% during the second quarter. The Manufacturers Life Insurance Company now owns 9,735 shares of the company’s stock valued at $202,000 after purchasing an additional 5,368 shares during the last quarter. 23.65% of the stock is currently owned by institutional investors and hedge funds.
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Golden Entertainment Company Profile
Golden Entertainment, Inc is a group of gaming companies. The Company focuses on distributed gaming, including tavern gaming, and casino and resort operations. It operates through two segments: Distributed Gaming and Casinos. Its Distributed Gaming segment involves the installation, maintenance and operation of gaming and amusement devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars, taverns, saloons and liquor stores) in Nevada and Montana, and the operation of traditional, branded taverns targeting local patrons, primarily in the greater Las Vegas, Nevada metropolitan area.
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