Truist Financial Issues Positive Forecast for Golden Entertainment (NASDAQ:GDEN) Stock Price

Golden Entertainment (NASDAQ:GDEN) had its price target lifted by Truist Financial from $25.00 to $30.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities analysts have also commented on the stock. Zacks Research raised shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. JMP Securities dropped their price objective on Golden Entertainment from $35.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Tuesday, September 16th. Wells Fargo & Company reaffirmed a “sell” rating and set a $30.00 target price (down from $34.00) on shares of Golden Entertainment in a research report on Thursday. Citigroup reiterated an “outperform” rating on shares of Golden Entertainment in a report on Tuesday, September 16th. Finally, Citizens Jmp lowered Golden Entertainment from a “market outperform” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.60.

Golden Entertainment Trading Up 2.5%

Shares of NASDAQ:GDEN traded up $0.71 on Friday, hitting $29.23. 1,977,474 shares of the company’s stock were exchanged, compared to its average volume of 232,488. The stock has a market capitalization of $764.60 million, a price-to-earnings ratio of 54.13 and a beta of 1.67. Golden Entertainment has a 12 month low of $19.57 and a 12 month high of $35.49. 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 business’s 50 day simple moving average is $23.26 and its two-hundred day simple moving average is $26.24.

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

Golden Entertainment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, December 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.4%. Golden Entertainment’s dividend payout ratio is currently 185.19%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Hill Path Capital LP lifted its stake in shares of Golden Entertainment by 477.8% during the 2nd quarter. Hill Path Capital LP now owns 655,625 shares of the company’s stock worth $19,295,000 after purchasing an additional 542,150 shares during the last quarter. Long Pond Capital LP purchased a new stake in Golden Entertainment during the first quarter valued at approximately $11,474,000. 1060 Capital LLC boosted its stake in Golden Entertainment by 328.6% in the first quarter. 1060 Capital LLC now owns 300,000 shares of the company’s stock valued at $7,917,000 after acquiring an additional 230,000 shares in the last quarter. Penn Capital Management Company LLC grew its holdings in Golden Entertainment by 29.3% in the first quarter. Penn Capital Management Company LLC now owns 674,024 shares of the company’s stock worth $17,827,000 after purchasing an additional 152,805 shares during the last quarter. Finally, Bernzott Capital Advisors grew its holdings in Golden Entertainment by 55.2% in the third quarter. Bernzott Capital Advisors now owns 336,288 shares of the company’s stock worth $7,930,000 after purchasing an additional 119,606 shares during the last quarter. 70.73% of the stock is owned by institutional investors.

Golden Entertainment Company Profile

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.