StockNews.com Downgrades Golden Entertainment (NASDAQ:GDEN) to Buy


Golden Entertainment (NASDAQ: GDENGet a rating) was downgraded by StockNews.com from a “strong buy” rating to a “buy” rating in a report released on Saturday.

GDEN has been the subject of a number of other reports. Zacks Investment Research cut Golden Entertainment shares from a “buy” to a “hold” rating in a Monday, May 9 research report. Deutsche Bank Aktiengesellschaft lowered its price target on shares of Golden Entertainment from $66.00 to $57.00 in a Friday May 6 research note. B. Riley reaffirmed a “buy” rating on Golden Entertainment shares in a Friday, May 6, research note. Roth Capital began covering Golden Entertainment shares in a research note on Wednesday, February 16. They issued a “buy” rating and a price target of $70.00 on the stock. Finally, Macquarie raised its price target on Golden Entertainment shares from $64.00 to $66.00 and gave the company an “outperform” rating in a Friday, Feb. 18 research note. One equity research analyst gave the stock a hold rating and six gave the company’s stock a buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $64.17.

Shares of GDEN opened at $45.83 on Friday. Golden Entertainment has a 1-year minimum of $38.38 and a 1-year maximum of $59.96. The stock has a market capitalization of $1.33 billion, a PE ratio of 7.79 and a beta of 2.59. The company has a debt ratio of 2.96, a current ratio of 1.91 and a quick ratio of 2.03. The company has a fifty-day moving average price of $52.57 and a 200-day moving average price of $50.40.

Golden Entertainment (NASDAQ: GDENGet a rating) last announced its quarterly results on Thursday, February 17. The company reported earnings per share of $0.59 for the quarter, missing analyst consensus estimates of $0.66 per ($0.07). Golden Entertainment had a net margin of 16.56% and a return on equity of 55.22%. The company posted revenue of $281.96 million in the quarter, compared to $264.84 million expected by analysts. During the same period last year, the company made ($0.44) earnings per share. As a group, stock analysts expect Golden Entertainment to post EPS of 3.73 for the current fiscal year.

Separately, CEO Blake L. Sartini sold 600,000 shares of the company in a transaction dated Thursday, February 24. The shares were sold at an average price of $46.30, for a total transaction of $27,780,000.00. The sale was disclosed in a document filed with the SEC, accessible via the SEC website. Also, COO Stephen Arcane sold 17,000 shares of the company in a transaction dated Tuesday, March 1. The stock was sold at an average price of $54.83, for a total transaction of $932,110.00. Disclosure of this sale can be found here. During the last quarter, insiders sold 860,129 shares of the company worth $42,409,156. Insiders of the company hold 41.10% of the shares of the company.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Millennium Management LLC purchased a new stake in Golden Entertainment during the second quarter at a value of $483,000. Wells Fargo & Company MN increased its position in Golden Entertainment by 106.0% during the second quarter. Wells Fargo & Company MN now owns 24,482 shares of the company worth $1,097,000 after purchasing an additional 12,596 shares last quarter. Morgan Stanley increased its position in Golden Entertainment by 1,793.0% during the second quarter. Morgan Stanley now owns 98,210 shares of the company worth $4,399,000 after buying an additional 93,022 shares last quarter. SG Americas Securities LLC purchased a new stake in Golden Entertainment during the third quarter at a value of $308,000. Finally, Victory Capital Management Inc. acquired a new stake in Golden Entertainment during the third quarter at a value of $534,000. 68.88% of the shares are held by hedge funds and other institutional investors.

About Golden Entertainment (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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