Golden Entertainment (NASDAQ:GDEN) Raised to “Buy” at StockNews.com

Golden Entertainment (NASDAQ:GDEN) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other brokerages have also recently issued reports on GDEN. JMP Securities reduced their price objective on Golden Entertainment from $37.00 to $36.00 and set a “market outperform” rating for the company in a report on Thursday, April 17th. Macquarie reiterated an “outperform” rating and issued a $40.00 price objective on shares of Golden Entertainment in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Golden Entertainment Trading Up 3.3%

Shares of Golden Entertainment stock opened at $29.42 on Monday. The firm has a market cap of $777.72 million, a price-to-earnings ratio of 23.73 and a beta of 1.85. Golden Entertainment has a 52-week low of $22.66 and a 52-week high of $35.49. The company’s 50-day simple moving average is $26.42 and its 200-day simple moving average is $30.23. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75.

Golden Entertainment (NASDAQ:GDEN) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Golden Entertainment had a net margin of 5.23% and a return on equity of 0.69%. The business had revenue of $160.84 million during the quarter, compared to analysts’ expectations of $164.37 million. As a group, equities research analysts anticipate that Golden Entertainment will post 0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its stake in shares of Golden Entertainment by 84.7% during the 3rd quarter. Barclays PLC now owns 48,918 shares of the company’s stock valued at $1,556,000 after buying an additional 22,440 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Golden Entertainment by 42.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,190 shares of the company’s stock valued at $325,000 after purchasing an additional 3,037 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Golden Entertainment by 5.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 31,795 shares of the company’s stock worth $1,005,000 after purchasing an additional 1,672 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in Golden Entertainment by 26.6% in the fourth quarter. DAVENPORT & Co LLC now owns 1,293,163 shares of the company’s stock valued at $40,864,000 after buying an additional 271,782 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Golden Entertainment by 2.2% during the fourth quarter. Rhumbline Advisers now owns 52,291 shares of the company’s stock valued at $1,652,000 after buying an additional 1,102 shares in the last quarter. Institutional investors and hedge funds own 70.73% of the company’s stock.

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.