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Golden Entertainment (NASDAQ:GDEN) is trading down 7%

Golden Entertainment (NASDAQ:GDEN) is trading down 7%

 


Golden Entertainment, Inc. (NASDAQ: GDENGet a rating) the stock price fell 7% on Friday. The stock traded as low as $40.58 and last traded at $42.18. Around 604 shares were traded during the midday session, down 100% from the average daily volume of 126,647 shares. The stock previously closed at $45.37.

Changes to analyst ratings

Several research analysts have recently weighed in on GDEN shares. B. Riley lowered his price target on Golden Entertainment from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, June 28. StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft reduced its price target on Golden Entertainment from $57.00 to $51.00 and set a “buy” rating for the company in a Wednesday, July 13 research report. Finally, JMP Securities assumed coverage for Golden Entertainment in a Tuesday, June 28 report. They set an “outperform” rating and a price target of $63.00 for the company. One research analyst has rated the stock with a hold rating and six have assigned the stock a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Golden Entertainment shares down 9.4%

The company has a debt ratio of 2.96, a current ratio of 1.91 and a quick ratio of 1.86. The stock has a fifty-day moving average of $42.68 and a two-hundred-day moving average of $47.89. The company has a market capitalization of $1.19 billion, a price-earnings ratio of 12.50 and a beta of 2.50.

Golden Entertainment (NASDAQ: GDENGet a rating) last announced its quarterly results on Thursday, May 5. The company reported earnings per share of $1.12 for the quarter, beating the consensus estimate of $0.49 by $0.63. Golden Entertainment had a net margin of 9.35% and a return on equity of 33.28%. The company posted revenue of $273.64 million for the quarter, versus $263.60 million expected by analysts. Sell-side analysts expect Golden Entertainment, Inc. to post earnings per share of 3.54 for the current year.

Hedge funds weigh on Golden Entertainment

Several hedge funds have recently changed their holdings of GDEN. Point72 Hong Kong Ltd increased its stake in Golden Entertainment by 161.5% in Q1. Point72 Hong Kong Ltd now owns 544 shares of the company valued at $32,000 after buying 336 additional shares during the period. The Swiss National Bank increased its position in shares of Golden Entertainment by 1.0% in the fourth quarter. The Swiss National Bank now owns 41,300 shares of the company valued at $2,087,000 after acquiring an additional 400 shares during the period. PDT Partners LLC increased its position in shares of Golden Entertainment by 1.4% during the first quarter. PDT Partners LLC now owns 36,631 shares of the company valued at $2,127,000 after purchasing an additional 500 shares during the period. Teacher Retirement System of Texas increased its stake in Golden Entertainment by 0.7% in the fourth quarter. Teacher Retirement System of Texas now owns 99,174 shares of the company worth $5,011,000 after purchasing an additional 687 shares during the period. Finally, CM Bidwell & Associates Ltd. increased its stake in shares of Golden Entertainment by 15.7% in the fourth quarter. CM Bidwell & Associates Ltd. now owns 6,300 shares of the company worth $318,000 after purchasing an additional 855 shares in the last quarter. Institutional investors hold 68.88% of the company’s shares.

Golden Entertainment Company Profile

(Get a rating)

Golden Entertainment, Inc, together with its subsidiaries, is engaged in the ownership and operation of a diversified entertainment platform in the United States. The Company operates through four segments: Nevada Casino Resorts, Nevada Locals Casinos, Maryland Casino Resort and Distributed Gaming. The Nevada Casino Resorts segment includes destination casino resort properties that include various food and beverage outlets, entertainment venues and other amenities.

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