Golden Entertainment (NASDAQ:GDEN) Trading 7.1% Higher

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Shares of Golden Entertainment Inc (NASDAQ:GDEN) traded up 7.1% on Wednesday . The company traded as high as $14.22 and last traded at $13.99, 292,743 shares were traded during trading. An increase of 100% from the average session volume of 146,454 shares. The stock had previously closed at $13.06.

A number of equities research analysts recently weighed in on the company. TheStreet downgraded Golden Entertainment from a “c-” rating to a “d” rating in a research report on Monday, September 9th. BidaskClub raised Golden Entertainment from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research downgraded Golden Entertainment from a “hold” rating to a “sell” rating in a report on Friday, August 9th. JPMorgan Chase & Co. began coverage on Golden Entertainment in a report on Wednesday. They set an “overweight” rating and a $18.00 price objective on the stock. Finally, ValuEngine raised Golden Entertainment from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $23.00.

The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 4.18. The business has a fifty day simple moving average of $13.55 and a two-hundred day simple moving average of $14.12. The company has a market capitalization of $379.50 million, a price-to-earnings ratio of -26.40 and a beta of 1.25.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.21). The company had revenue of $248.07 million for the quarter, compared to analyst estimates of $249.18 million. Golden Entertainment had a negative net margin of 5.60% and a negative return on equity of 8.67%. As a group, equities analysts predict that Golden Entertainment Inc will post -0.32 earnings per share for the current fiscal year.

In other Golden Entertainment news, Director Anthony A. Marnell III bought 10,000 shares of Golden Entertainment stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average cost of $13.23 per share, with a total value of $132,300.00. Following the acquisition, the director now directly owns 34,579 shares of the company’s stock, valued at $457,480.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony A. Marnell III bought 5,900 shares of Golden Entertainment stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $12.87 per share, for a total transaction of $75,933.00. Following the completion of the acquisition, the director now directly owns 34,579 shares in the company, valued at $445,031.73. The disclosure for this purchase can be found here. 36.40% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in GDEN. Morgan Stanley boosted its holdings in shares of Golden Entertainment by 10.0% in the 2nd quarter. Morgan Stanley now owns 12,033 shares of the company’s stock worth $168,000 after acquiring an additional 1,098 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Golden Entertainment by 4,096.7% in the 2nd quarter. Bank of Montreal Can now owns 15,234 shares of the company’s stock worth $213,000 after acquiring an additional 14,871 shares in the last quarter. Algert Global LLC acquired a new position in shares of Golden Entertainment in the 2nd quarter worth approximately $232,000. Parametric Portfolio Associates LLC acquired a new position in shares of Golden Entertainment in the 2nd quarter worth approximately $247,000. Finally, Rhumbline Advisers boosted its holdings in shares of Golden Entertainment by 4.2% in the 3rd quarter. Rhumbline Advisers now owns 25,991 shares of the company’s stock worth $345,000 after acquiring an additional 1,044 shares in the last quarter. 53.66% of the stock is currently owned by institutional investors and hedge funds.

About Golden Entertainment (NASDAQ:GDEN)

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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