Golden Entertainment Inc (NASDAQ:GDEN) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 960,700 shares, a decrease of 13.8% from the July 31st total of 1,114,000 shares. Currently, 5.1% of the company’s stock are sold short. Based on an average trading volume of 115,700 shares, the short-interest ratio is currently 8.3 days.
Shares of GDEN traded up $0.15 during mid-day trading on Thursday, reaching $14.57. The company had a trading volume of 6,076 shares, compared to its average volume of 153,332. The company has a debt-to-equity ratio of 4.18, a quick ratio of 1.28 and a current ratio of 1.35. The firm has a 50-day moving average price of $13.76 and a 200 day moving average price of $14.65. Golden Entertainment has a 52 week low of $12.32 and a 52 week high of $27.75. The company has a market capitalization of $389.23 million, a price-to-earnings ratio of -27.74 and a beta of 1.29.
Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.21). Golden Entertainment had a negative return on equity of 8.67% and a negative net margin of 5.60%. The company had revenue of $248.07 million during the quarter, compared to the consensus estimate of $249.18 million. As a group, research analysts forecast that Golden Entertainment will post -0.3 earnings per share for the current fiscal year.
In other news, Director Anthony A. Marnell III bought 10,000 shares of Golden Entertainment stock in a transaction on Tuesday, August 20th. The shares were purchased at an average price of $13.23 per share, for a total transaction of $132,300.00. Following the acquisition, the director now owns 34,579 shares of the company’s stock, valued at $457,480.17. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anthony A. Marnell III bought 5,900 shares of Golden Entertainment stock in a transaction on Friday, August 16th. The shares were purchased at an average price of $12.87 per share, for a total transaction of $75,933.00. Following the acquisition, the director now directly owns 34,579 shares in the company, valued at approximately $445,031.73. The disclosure for this purchase can be found here. 36.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA bought a new stake in shares of Golden Entertainment in the 1st quarter worth approximately $54,000. Morgan Stanley boosted its position in shares of Golden Entertainment by 10.0% in the 2nd quarter. Morgan Stanley now owns 12,033 shares of the company’s stock worth $168,000 after purchasing an additional 1,098 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Golden Entertainment by 4,096.7% in the 2nd quarter. Bank of Montreal Can now owns 15,234 shares of the company’s stock worth $213,000 after purchasing an additional 14,871 shares in the last quarter. Algert Global LLC bought a new stake in shares of Golden Entertainment in the 2nd quarter worth approximately $232,000. Finally, Parametric Portfolio Associates LLC bought a new stake in shares of Golden Entertainment in the 2nd quarter worth approximately $247,000. 53.66% of the stock is currently owned by hedge funds and other institutional investors.
About Golden Entertainment
Golden Entertainment, Inc engages in the development, finance, management, and ownership of casino properties. It operates through the Distributed Gaming and Casinos segments. The Distributed Gaming segment involves in the installation, maintenance, and operation of slots and amusement devices in non-casino locations such as grocery stores, convenience stores, liquor stores, restaurants, bars, and taverns; and the operation of wholly-owned branded taverns targeting local patrons.
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