Golden Entertainment (GDEN) Lowered to Strong Sell at BidaskClub

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BidaskClub downgraded shares of Golden Entertainment (NASDAQ:GDEN) from a sell rating to a strong sell rating in a research note published on Thursday.

A number of other research analysts have also recently issued reports on the company. Jefferies Financial Group set a $39.00 target price on Golden Entertainment and gave the company a buy rating in a research note on Monday, September 24th. Deutsche Bank started coverage on Golden Entertainment in a research note on Thursday, October 4th. They issued a buy rating and a $40.00 target price for the company. Zacks Investment Research cut Golden Entertainment from a hold rating to a strong sell rating in a research note on Monday, August 13th. TheStreet cut Golden Entertainment from a b rating to a c rating in a research note on Wednesday, August 15th. Finally, ValuEngine cut Golden Entertainment from a buy rating to a hold rating in a research note on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $38.33.

NASDAQ GDEN traded down $3.25 on Thursday, reaching $14.44. The company had a trading volume of 1,971,722 shares, compared to its average volume of 358,768. The company has a market capitalization of $479.53 million, a PE ratio of 42.47, a P/E/G ratio of 2.26 and a beta of 0.92. The company has a current ratio of 2.38, a quick ratio of 2.29 and a debt-to-equity ratio of 2.69. Golden Entertainment has a 52 week low of $13.25 and a 52 week high of $34.75.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.26). The company had revenue of $210.34 million during the quarter, compared to the consensus estimate of $214.70 million. Golden Entertainment had a net margin of 0.36% and a return on equity of 1.89%. As a group, sell-side analysts predict that Golden Entertainment will post 0.77 earnings per share for the current fiscal year.

In related news, VP Sean T. Higgins sold 11,840 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $28.86, for a total transaction of $341,702.40. Following the completion of the transaction, the vice president now directly owns 27,063 shares of the company’s stock, valued at $781,038.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephen A. Arcana sold 8,656 shares of the 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 transaction, the chief operating officer now directly owns 68,434 shares of the company’s stock, valued at $1,937,366.54. The disclosure for this sale can be found here. Insiders have sold 210,024 shares of company stock valued at $5,390,719 over the last ninety days. 33.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of GDEN. NumerixS Investment Technologies Inc acquired a new position in Golden Entertainment during the second quarter valued at approximately $108,000. Navellier & Associates Inc acquired a new position in Golden Entertainment during the second quarter valued at approximately $202,000. Engineers Gate Manager LP acquired a new position in Golden Entertainment during the third quarter valued at approximately $212,000. State Board of Administration of Florida Retirement System acquired a new position in Golden Entertainment during the second quarter valued at approximately $218,000. Finally, Alliancebernstein L.P. boosted its position in Golden Entertainment by 53.0% during the third quarter. Alliancebernstein L.P. now owns 12,700 shares of the company’s stock valued at $305,000 after purchasing an additional 4,400 shares during the last quarter. 63.43% of the stock is owned by hedge funds and other institutional investors.

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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