Golden Entertainment (GDEN) Downgraded to “Hold” at ValuEngine

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Golden Entertainment (NASDAQ:GDEN) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other equities analysts also recently issued reports about the stock. TheStreet upgraded shares of Golden Entertainment from a “c+” rating to a “b” rating in a research note on Monday, June 4th. 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 raised 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. Zacks Investment Research upgraded shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Finally, Telsey Advisory Group raised their target price on shares of Golden Entertainment from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, May 29th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Golden Entertainment currently has a consensus rating of “Hold” and an average target price of $37.00.

NASDAQ GDEN opened at $24.83 on Friday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 2.29 and a current ratio of 2.38. Golden Entertainment has a 52-week low of $22.55 and a 52-week high of $34.75. The company has a market cap of $798.12 million, a PE ratio of 73.03, a price-to-earnings-growth ratio of 3.26 and a beta of 0.50.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings data on Wednesday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.11). Golden Entertainment had a net margin of 0.36% and a return on equity of 1.89%. The business had revenue of $216.54 million for the quarter, compared to the consensus estimate of $223.40 million. equities analysts predict that Golden Entertainment will post 0.89 earnings per share for the current year.

In other Golden Entertainment news, COO Stephen A. Arcana sold 8,656 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $28.31, for a total value of $245,051.36. Following the completion of the sale, the chief operating officer now directly owns 68,434 shares in the company, valued at $1,937,366.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stephen A. Arcana sold 11,350 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $29.03, for a total transaction of $329,490.50. Following the completion of the sale, the chief operating officer now owns 68,434 shares of the company’s stock, valued at $1,986,639.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,339 shares of company stock valued at $1,919,437. 33.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in GDEN. NumerixS Investment Technologies Inc acquired a new stake in Golden Entertainment in the second quarter valued at approximately $108,000. Victory Capital Management Inc. acquired a new stake in Golden Entertainment in the first quarter valued at approximately $192,000. MetLife Investment Advisors LLC boosted its stake in Golden Entertainment by 52.7% in the first quarter. MetLife Investment Advisors LLC now owns 8,432 shares of the company’s stock valued at $196,000 after acquiring an additional 2,910 shares in the last quarter. Navellier & Associates Inc acquired a new stake in Golden Entertainment in the second quarter valued at approximately $202,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Golden Entertainment during the second quarter worth $218,000. Institutional investors own 63.30% of the company’s stock.

About Golden Entertainment

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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