Brokerages Set Golden Entertainment, Inc. (NASDAQ:GDEN) PT at $37.20

Golden Entertainment, Inc. (NASDAQ:GDEN) has received a consensus rating of “Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $37.33.

A number of research analysts have recently weighed in on the company. Macquarie dropped their target price on Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company initiated coverage on Golden Entertainment in a report on Monday. They set an “overweight” rating and a $38.00 price target on the stock. B. Riley dropped their price target on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. StockNews.com upgraded Golden Entertainment from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Finally, JMP Securities lifted their price target on Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a report on Monday, November 25th.

Golden Entertainment Stock Up 0.5 %

GDEN stock opened at $33.36 on Thursday. Golden Entertainment has a twelve month low of $27.42 and a twelve month high of $41.98. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average is $31.86 and its 200-day moving average is $31.09. The firm has a market capitalization of $915.03 million, a PE ratio of 26.90 and a beta of 2.22.

Golden Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, December 20th. Golden Entertainment’s dividend payout ratio is currently 80.65%.

Insiders Place Their Bets

In other news, Director Mark A. Lipparelli sold 773 shares of Golden Entertainment stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $33.32, for a total value of $25,756.36. Following the completion of the transaction, the director now directly owns 82,740 shares in the company, valued at approximately $2,756,896.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Golden Entertainment

Several hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in shares of Golden Entertainment by 7.6% in the third quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock valued at $143,000 after purchasing an additional 317 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Golden Entertainment by 1.9% in the third quarter. HighTower Advisors LLC now owns 17,580 shares of the company’s stock valued at $557,000 after purchasing an additional 333 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Golden Entertainment by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 10,499 shares of the company’s stock valued at $327,000 after purchasing an additional 355 shares in the last quarter. Empowered Funds LLC grew its position in shares of Golden Entertainment by 5.0% in the third quarter. Empowered Funds LLC now owns 8,420 shares of the company’s stock valued at $268,000 after purchasing an additional 402 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of Golden Entertainment by 6.4% in the third quarter. New York State Teachers Retirement System now owns 8,230 shares of the company’s stock valued at $262,000 after purchasing an additional 494 shares in the last quarter. 70.73% of the stock is currently owned by hedge funds and other institutional investors.

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.