US Bancorp DE decreased its stake in Golden Entertainment, Inc. (NASDAQ:GDEN) by 37.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,624 shares of the company’s stock after selling 970 shares during the quarter. US Bancorp DE’s holdings in Golden Entertainment were worth $73,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. UBS Group AG lifted its position in Golden Entertainment by 9.3% in the 1st quarter. UBS Group AG now owns 5,578 shares of the company’s stock worth $141,000 after buying an additional 474 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Golden Entertainment by 0.4% during the 1st quarter. New York State Common Retirement Fund now owns 531,131 shares of the company’s stock worth $13,416,000 after purchasing an additional 2,302 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Golden Entertainment by 2.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 97,861 shares of the company’s stock worth $4,384,000 after purchasing an additional 2,313 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Golden Entertainment by 10,379.4% during the 1st quarter. Quantbot Technologies LP now owns 3,563 shares of the company’s stock worth $90,000 after purchasing an additional 3,529 shares during the last quarter. Finally, Pinz Capital Management LP acquired a new position in shares of Golden Entertainment during the 1st quarter worth $119,000. Institutional investors own 55.59% of the company’s stock.
Several research analysts have recently commented on GDEN shares. Zacks Investment Research upgraded shares of Golden Entertainment from a “hold” rating to a “strong-buy” rating and set a $50.00 price target on the stock in a research note on Friday, July 9th. TheStreet upgraded shares of Golden Entertainment from a “c” rating to a “b-” rating in a research note on Monday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Golden Entertainment from $42.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 6th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $46.00.
Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings data on Thursday, August 5th. The company reported $2.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $2.28. The firm had revenue of $292.47 million during the quarter, compared to analysts’ expectations of $247.67 million. Golden Entertainment had a net margin of 9.35% and a return on equity of 39.37%. Equities research analysts anticipate that Golden Entertainment, Inc. will post 3.2 earnings per share for the current year.
In related news, Director Anthony A. Marnell III sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 25th. The shares were sold at an average price of $52.68, for a total transaction of $790,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Blake L. Sartini II sold 9,194 shares of the stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $52.56, for a total transaction of $483,236.64. Following the completion of the transaction, the senior vice president now directly owns 167,490 shares of the company’s stock, valued at approximately $8,803,274.40. The disclosure for this sale can be found here. In the last three months, insiders sold 54,580 shares of company stock worth $2,863,363. 41.10% of the stock is currently owned by insiders.
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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