Golden Entertainment (NASDAQ:GDEN) Given New $34.00 Price Target at Wells Fargo & Company

Golden Entertainment (NASDAQ:GDEN) had its target price lowered by equities research analysts at Wells Fargo & Company from $36.00 to $34.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 32.04% from the stock’s previous close.

Several other equities research analysts also recently issued reports on GDEN. Macquarie lowered their price objective on shares of Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Citigroup reiterated an “outperform” rating on shares of Golden Entertainment in a research note on Friday, July 18th. Wall Street Zen upgraded shares of Golden Entertainment from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Truist Financial downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating and decreased their price target for the stock from $36.00 to $34.00 in a research note on Wednesday, July 16th. Finally, JMP Securities decreased their price target on shares of Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating on the stock in a research note on Friday, July 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Golden Entertainment Trading Down 0.8%

Shares of Golden Entertainment stock opened at $25.75 on Tuesday. The company’s fifty day simple moving average is $28.77 and its 200-day simple moving average is $28.64. The company has a market cap of $673.62 million, a price-to-earnings ratio of 47.69 and a beta of 1.83. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.95. Golden Entertainment has a 1 year low of $22.66 and a 1 year high of $35.49.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. The business had revenue of $163.62 million for the quarter, compared to the consensus estimate of $169.70 million. Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. As a group, sell-side analysts expect that Golden Entertainment will post 0.2 EPS for the current year.

Institutional Investors Weigh In On Golden Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gabelli Funds LLC boosted its stake in shares of Golden Entertainment by 1.5% in the 2nd quarter. Gabelli Funds LLC now owns 175,600 shares of the company’s stock valued at $5,168,000 after purchasing an additional 2,600 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Golden Entertainment by 5.2% in the 2nd quarter. Gamco Investors INC. ET AL now owns 868,146 shares of the company’s stock valued at $25,550,000 after purchasing an additional 42,720 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Golden Entertainment by 159.1% in the 2nd quarter. Marshall Wace LLP now owns 127,418 shares of the company’s stock valued at $3,750,000 after purchasing an additional 78,247 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Golden Entertainment by 160.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 95,299 shares of the company’s stock valued at $2,805,000 after purchasing an additional 58,679 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Golden Entertainment in the 2nd quarter valued at $1,277,000. Institutional investors and hedge funds own 70.73% of the company’s stock.

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.