Golden Entertainment (NASDAQ:GDEN) Upgraded to “Hold” by BidaskClub

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Golden Entertainment (NASDAQ:GDEN) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Wednesday, BidAskClub reports.

A number of other analysts have also recently weighed in on GDEN. ValuEngine raised Golden Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Zacks Investment Research cut Golden Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $24.67.

Golden Entertainment stock opened at $14.28 on Wednesday. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.35 and a quick ratio of 1.28. The stock has a market capitalization of $381.72 million, a price-to-earnings ratio of -26.94 and a beta of 1.29. Golden Entertainment has a 1-year low of $12.32 and a 1-year high of $29.72. The business has a fifty day moving average price of $14.04 and a 200-day moving average price of $15.09.

Golden Entertainment (NASDAQ:GDEN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.21). The business had revenue of $248.07 million during the quarter, compared to analyst estimates of $249.18 million. Golden Entertainment had a negative return on equity of 8.67% and a negative net margin of 5.60%.

In other news, SVP Blake L. Sartini II purchased 10,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was bought at an average price of $13.87 per share, with a total value of $138,700.00. Following the transaction, the senior vice president now owns 37,271 shares in the company, valued at approximately $516,948.77. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony A. Marnell III purchased 6,800 shares of the stock in a transaction on Wednesday, June 12th. The shares were purchased at an average cost of $13.33 per share, with a total value of $90,644.00. Following the transaction, the director now owns 28,679 shares in the company, valued at approximately $382,291.07. The disclosure for this purchase can be found here. Insiders bought a total of 43,700 shares of company stock valued at $585,487 in the last three months. Insiders own 36.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC lifted its holdings in shares of Golden Entertainment by 165.3% in the 1st quarter. Quantamental Technologies LLC now owns 4,510 shares of the company’s stock valued at $64,000 after buying an additional 2,810 shares during the period. Geode Capital Management LLC increased its stake in shares of Golden Entertainment by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 211,174 shares of the company’s stock valued at $3,383,000 after purchasing an additional 20,561 shares in the last quarter. Penn Capital Management Co. Inc. increased its stake in shares of Golden Entertainment by 13.6% in the 1st quarter. Penn Capital Management Co. Inc. now owns 992,540 shares of the company’s stock valued at $15,107,000 after purchasing an additional 118,564 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Golden Entertainment by 365.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,930 shares of the company’s stock valued at $95,000 after purchasing an additional 4,655 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in shares of Golden Entertainment by 12.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 267,000 shares of the company’s stock valued at $3,781,000 after purchasing an additional 30,000 shares in the last quarter. 56.03% of the stock is owned by institutional investors.

About Golden Entertainment

Golden Entertainment, Inc engages in the development, finance, management, and ownership of casino properties. It operates through the Distributed Gaming and Casinos segments. The Distributed Gaming segment involves in the installation, maintenance, and operation of slots and amusement devices in non-casino locations such as grocery stores, convenience stores, liquor stores, restaurants, bars, and taverns; and the operation of wholly-owned branded taverns targeting local patrons.

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