Golden Entertainment (NASDAQ:GDEN) announced its quarterly earnings results on Thursday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.26), Fidelity Earnings reports. Golden Entertainment had a return on equity of 1.89% and a net margin of 0.36%. The firm had revenue of $210.34 million for the quarter, compared to analysts’ expectations of $214.70 million.
NASDAQ:GDEN traded down $3.25 during trading hours on Friday, reaching $14.44. 1,971,722 shares of the company were exchanged, compared to its average volume of 343,938. The company has a debt-to-equity ratio of 2.69, a quick ratio of 2.29 and a current ratio of 2.38. The stock has a market capitalization of $475.96 million, a PE ratio of 42.47, a P/E/G ratio of 2.25 and a beta of 0.92. Golden Entertainment has a twelve month low of $13.25 and a twelve month high of $34.75.
In other Golden Entertainment news, Director Lyle Berman sold 36,493 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $27.49, for a total transaction of $1,003,192.57. Following the completion of the transaction, the director now directly owns 913,293 shares in the company, valued at $25,106,424.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sean T. Higgins sold 11,840 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 27,063 shares of the company’s stock, valued at $781,038.18. 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 90 days. 33.80% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. NumerixS Investment Technologies Inc acquired a new stake in shares of Golden Entertainment in the second quarter valued at about $108,000. Navellier & Associates Inc acquired a new stake in shares of Golden Entertainment in the second quarter valued at about $202,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Golden Entertainment in the second quarter valued at about $218,000. Engineers Gate Manager LP acquired a new stake in shares of Golden Entertainment in the third quarter valued at about $212,000. Finally, Alliancebernstein L.P. raised its position in shares of Golden Entertainment by 53.0% in the third quarter. Alliancebernstein L.P. now owns 12,700 shares of the company’s stock valued at $305,000 after buying an additional 4,400 shares during the last quarter. Institutional investors and hedge funds own 63.43% of the company’s stock.
A number of brokerages recently issued reports on GDEN. BidaskClub downgraded shares of Golden Entertainment from a “sell” rating to a “strong sell” rating in a report on Thursday. Deutsche Bank reissued a “buy” rating on shares of Golden Entertainment in a report on Thursday, October 11th. Zacks Investment Research downgraded shares of Golden Entertainment from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 10th. Jefferies Financial Group set a $39.00 price objective on shares of Golden Entertainment and gave the stock a “buy” rating in a research report on Monday, September 24th. Finally, ValuEngine cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $38.33.
Golden Entertainment Company Profile
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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