Golden Entertainment, Inc. (NASDAQ:GDEN) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Golden Entertainment, Inc. (NASDAQ:GDEN) from a buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Golden Entertainment, Inc. is a diverse gaming company which offers casino, distribute gaming and lottery services. The company’s gaming divisions consists of Golden Casino Group, PT’s Entertainment Group and Golden Route Operations. Golden Entertainment, Inc., formerly known as Lakes Entertainment, Inc., is based in Las Vegas, United States. “

Separately, SunTrust Banks, Inc. downgraded Golden Entertainment from a buy rating to a hold rating in a research report on Monday, May 15th.

Shares of Golden Entertainment (GDEN) traded up 0.88% on Wednesday, hitting $20.58. 47,552 shares of the stock traded hands. Golden Entertainment has a 1-year low of $8.65 and a 1-year high of $22.18. The stock has a 50 day moving average of $18.24 and a 200-day moving average of $14.05. The stock has a market cap of $457.93 million, a PE ratio of 23.96 and a beta of 0.04.

Golden Entertainment (NASDAQ:GDEN) last issued its earnings results on Tuesday, May 9th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.13 by $0.10. The business had revenue of $106.65 million during the quarter, compared to the consensus estimate of $106.90 million. Golden Entertainment had a return on equity of 6.99% and a net margin of 4.63%. On average, equities research analysts expect that Golden Entertainment will post $0.82 EPS for the current year.

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Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new position in shares of Golden Entertainment during the second quarter worth $133,000. Lafitte Capital Management LP boosted its position in shares of Golden Entertainment by 21.6% in the first quarter. Lafitte Capital Management LP now owns 438,885 shares of the company’s stock worth $5,806,000 after buying an additional 78,055 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Golden Entertainment during the first quarter worth $196,000. 28.31% of the stock is currently owned by institutional investors.

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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