Zacks Investment Research downgraded shares of Golden Entertainment (NASDAQ:GDEN) from a hold rating to a strong sell rating in a research note released on Wednesday.
According to Zacks, “Golden Entertainment, Inc. is a diverse gaming company which offers casino, distribute gaming and lottery services. The company’s gaming divisions consists of Golden Casino Group, PT’s Entertainment Group and Golden Route Operations. Golden Entertainment, Inc., formerly known as Lakes Entertainment, Inc., is based in Las Vegas, United States. “
Several other research firms have also recently issued reports on GDEN. BidaskClub upgraded shares of Golden Entertainment from a hold rating to a buy rating in a research note on Wednesday, July 18th. Jefferies Financial Group upped their target price on shares of Golden Entertainment from $38.00 to $40.00 and gave the company a buy rating in a research note on Thursday, August 9th. TheStreet cut shares of Golden Entertainment from a b rating to a c rating in a research note on Wednesday, August 15th. Deutsche Bank assumed coverage on shares of Golden Entertainment in a research note on Thursday, October 4th. They set a buy rating and a $40.00 target price on the stock. Finally, ValuEngine cut shares of Golden Entertainment from a buy rating to a hold rating in a research note on Friday, September 7th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Golden Entertainment presently has an average rating of Hold and a consensus price target of $37.50.
GDEN traded down $0.13 during midday trading on Wednesday, hitting $22.08. 386,117 shares of the company traded hands, compared to its average volume of 350,872. The company has a debt-to-equity ratio of 2.69, a quick ratio of 2.29 and a current ratio of 2.38. The stock has a market capitalization of $660.56 million, a P/E ratio of 64.94, a P/E/G ratio of 3.12 and a beta of 0.55. Golden Entertainment has a 52 week low of $21.48 and a 52 week high of $34.75.
Golden Entertainment (NASDAQ:GDEN) last posted its earnings results on Wednesday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.11). The company had revenue of $216.54 million for the quarter, compared to the consensus estimate of $223.40 million. Golden Entertainment had a net margin of 0.36% and a return on equity of 1.89%. Research analysts forecast that Golden Entertainment will post 0.77 EPS for the current fiscal year.
In other news, VP Sean T. Higgins sold 11,840 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $28.86, for a total transaction of $341,702.40. Following the completion of the sale, the vice president now owns 27,063 shares of the company’s stock, valued at approximately $781,038.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stephen A. Arcana sold 11,350 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $29.03, for a total transaction of $329,490.50. Following the sale, the chief operating officer now directly owns 68,434 shares of the company’s stock, valued at approximately $1,986,639.02. The disclosure for this sale can be found here. Insiders have sold a total of 210,024 shares of company stock worth $5,390,719 in the last 90 days. Company insiders own 33.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in shares of Golden Entertainment by 9.9% during the 2nd quarter. Northern Trust Corp now owns 218,949 shares of the company’s stock valued at $5,909,000 after purchasing an additional 19,753 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Golden Entertainment during the 2nd quarter valued at about $1,083,000. WINTON GROUP Ltd purchased a new stake in shares of Golden Entertainment during the 2nd quarter valued at about $867,000. Millennium Management LLC purchased a new stake in shares of Golden Entertainment during the 2nd quarter valued at about $7,745,000. Finally, PEAK6 Investments L.P. increased its position in shares of Golden Entertainment by 648.1% during the 2nd quarter. PEAK6 Investments L.P. now owns 99,607 shares of the company’s stock valued at $2,688,000 after purchasing an additional 86,293 shares during the last quarter. 63.44% of the stock is owned by hedge funds and other institutional investors.
Golden Entertainment Company Profile
Golden Entertainment, Inc, together with its subsidiaries, focuses on distributed gaming, and resort casino operations in the United States. The Distributed Gaming segment is involved in the installation, maintenance, and operation of slots and amusement devices in non-casino locations, such as grocery stores, convenience stores, restaurants, bars, taverns, and liquor stores; and operation of branded taverns targeting local patrons primarily in the greater Las Vegas, Nevada metropolitan area.
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