Golden Entertainment (NASDAQ:GDEN) Rating Lowered to “Equal Weight” at Wells Fargo & Company

Golden Entertainment (NASDAQ:GDEN) was downgraded by equities researchers at Wells Fargo & Company from a “strong-buy” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They currently have a $30.00 price target on the stock, down from their prior price target of $34.00. Wells Fargo & Company‘s target price indicates a potential upside of 2.63% from the stock’s previous close.

Several other research firms have also recently commented on GDEN. Weiss Ratings raised Golden Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Macquarie decreased their price target on Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Zacks Research upgraded Golden Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Citigroup reissued an “outperform” rating on shares of Golden Entertainment in a report on Tuesday, September 16th. Finally, JMP Securities cut their target price on shares of Golden Entertainment from $35.00 to $34.00 and set a “market outperform” rating on the stock in a research report on Tuesday, September 16th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.60.

Golden Entertainment Price Performance

Shares of GDEN stock opened at $29.23 on Thursday. The stock’s fifty day simple moving average is $23.26 and its 200 day simple moving average is $26.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.12 and a quick ratio of 1.03. The firm has a market cap of $764.60 million, a price-to-earnings ratio of 54.13 and a beta of 1.67. Golden Entertainment has a one year low of $19.57 and a one year high of $35.49.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.10). The company had revenue of $154.82 million for the quarter, compared to analyst estimates of $157.21 million. Golden Entertainment had a return on equity of 3.23% and a net margin of 2.35%. On average, analysts expect that Golden Entertainment will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Golden Entertainment

Hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its position in shares of Golden Entertainment by 3.5% during the second quarter. State of Alaska Department of Revenue now owns 11,792 shares of the company’s stock worth $346,000 after purchasing an additional 397 shares in the last quarter. Invesco Ltd. raised its stake in Golden Entertainment by 0.4% during the 1st quarter. Invesco Ltd. now owns 109,805 shares of the company’s stock worth $2,898,000 after buying an additional 479 shares during the period. Gabelli Funds LLC raised its stake in Golden Entertainment by 0.3% during the 1st quarter. Gabelli Funds LLC now owns 173,000 shares of the company’s stock worth $4,565,000 after buying an additional 500 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Golden Entertainment by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 27,250 shares of the company’s stock worth $802,000 after acquiring an additional 544 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Golden Entertainment by 2.9% in the first quarter. Victory Capital Management Inc. now owns 30,600 shares of the company’s stock valued at $808,000 after acquiring an additional 849 shares during the period. 70.73% of the stock is currently owned by institutional investors and hedge funds.

About Golden Entertainment

Golden Entertainment, Inc owns and operates a diversified entertainment platform in the United States. The company operates through four segments; Nevada Casino Resorts, Nevada Locals Casinos, Nevada Taverns, and Distributed Gaming. It also operates casino, casino resorts, and taverns; and slot machines in third party non-casino locations.