Golden Entertainment Inc (GDEN) Given Consensus Rating of “Buy” by Analysts

Golden Entertainment Inc (NASDAQ:GDEN) has been given an average rating of “Buy” by the six research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $36.50.

GDEN has been the subject of a number of recent research reports. Macquarie initiated coverage on Golden Entertainment in a research note on Wednesday, October 25th. They issued an “outperform” rating and a $35.00 target price for the company. BidaskClub raised Golden Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday, February 3rd. TheStreet raised Golden Entertainment from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. Finally, Jefferies Group initiated coverage on Golden Entertainment in a research note on Thursday, January 18th. They issued a “buy” rating and a $38.00 target price for the company.

Shares of Golden Entertainment (NASDAQ:GDEN) opened at $28.95 on Monday. Golden Entertainment has a 52 week low of $11.12 and a 52 week high of $34.75. The stock has a market capitalization of $764.66, a price-to-earnings ratio of 26.32 and a beta of 0.19. The company has a quick ratio of 1.52, a current ratio of 1.59 and a debt-to-equity ratio of 0.69.

In related news, Director Lyle Berman sold 750,000 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total transaction of $19,980,000.00. Following the completion of the sale, the director now directly owns 1,642,841 shares of the company’s stock, valued at approximately $43,765,284.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,046,494 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total value of $107,798,600.16. The disclosure for this sale can be found here. Insiders have sold a total of 5,750,000 shares of company stock valued at $153,180,000 over the last three months. Corporate insiders own 52.00% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Nationwide Fund Advisors increased its position in shares of Golden Entertainment by 11.8% during the 2nd quarter. Nationwide Fund Advisors now owns 6,360 shares of the company’s stock worth $132,000 after purchasing an additional 671 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Golden Entertainment by 10.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 20,600 shares of the company’s stock worth $503,000 after purchasing an additional 1,900 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Golden Entertainment by 13.3% during the 2nd quarter. Wells Fargo & Company MN now owns 27,131 shares of the company’s stock worth $562,000 after purchasing an additional 3,175 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Golden Entertainment by 194.4% during the 4th quarter. Bessemer Group Inc. now owns 5,300 shares of the company’s stock worth $173,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Golden Entertainment by 5.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 74,034 shares of the company’s stock worth $1,533,000 after purchasing an additional 4,017 shares during the last quarter. 23.73% of the stock is owned by hedge funds and other institutional investors.

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About Golden Entertainment

Golden Entertainment, Inc is a group of gaming companies. The Company focuses on distributed gaming, including tavern gaming, and casino and resort operations. It operates through two segments: Distributed Gaming and Casinos. Its Distributed Gaming segment involves the installation, maintenance and operation of gaming and amusement devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars, taverns, saloons and liquor stores) in Nevada and Montana, and the operation of traditional, branded taverns targeting local patrons, primarily in the greater Las Vegas, Nevada metropolitan area.

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