Golden Entertainment (NASDAQ:GDEN) Stock Passes Below Fifty Day Moving Average – Here’s What Happened

Golden Entertainment, Inc. (NASDAQ:GDEN) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $27.81 and traded as low as $26.70. Golden Entertainment shares last traded at $26.92, with a volume of 608,366 shares traded.

Analyst Upgrades and Downgrades

GDEN has been the topic of a number of research reports. Weiss Ratings upgraded shares of Golden Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Truist Financial increased their price objective on Golden Entertainment from $25.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, November 7th. Citizens Jmp downgraded Golden Entertainment from a “market outperform” rating to a “hold” rating in a research report on Friday, November 7th. Wells Fargo & Company reiterated a “sell” rating and issued a $30.00 price objective (down from $34.00) on shares of Golden Entertainment in a research report on Thursday, November 6th. Finally, Zacks Research upgraded shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.75.

Golden Entertainment Price Performance

The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.02 and a current ratio of 1.10. The company has a market capitalization of $704.77 million, a price-to-earnings ratio of 149.56 and a beta of 1.50. The company has a 50-day moving average price of $27.81 and a 200-day moving average price of $26.14.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.10). Golden Entertainment had a net margin of 0.85% and a return on equity of 1.20%. The firm had revenue of $154.82 million during the quarter, compared to analyst estimates of $157.21 million. On average, equities research analysts expect that Golden Entertainment, Inc. will post 0.2 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Monday, December 22nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, December 22nd. Golden Entertainment’s dividend payout ratio (DPR) is presently 555.56%.

Institutional Trading of Golden Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Golden Entertainment during the second quarter worth about $27,000. Tower Research Capital LLC TRC lifted its stake in Golden Entertainment by 168.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $79,000 after acquiring an additional 1,680 shares in the last quarter. Creative Planning acquired a new position in Golden Entertainment during the 2nd quarter worth approximately $201,000. The Manufacturers Life Insurance Company bought a new stake in shares of Golden Entertainment in the second quarter worth $210,000. Finally, iSAM Funds UK Ltd acquired a new position in Golden Entertainment during the second quarter worth $215,000. Institutional investors and hedge funds own 70.73% of the company’s stock.

About Golden Entertainment

Golden Entertainment, Inc is a diversified gaming and hospitality company that operates in the casino, tavern-casino and slot route markets. The company’s core activities encompass the ownership and management of full-service resort casinos, a portfolio of branded neighborhood tavern-casinos and a large slot distribution network. Headquartered in Summerlin, Nevada, Golden Entertainment serves leisure and local gaming customers across multiple Western U.S. markets.

In its casino and tavern-casino segment, Golden Entertainment owns and operates properties such as Bronco Billy’s Casino & Hotel in Cripple Creek, Colorado, along with a collection of PT’s branded venues throughout Southern Nevada.