Golden Entertainment (GDEN) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Golden Entertainment (NASDAQ:GDEN) from a buy rating to a hold rating in a report released on Wednesday.

Other equities analysts also recently issued research reports about the company. TheStreet upgraded Golden Entertainment from a c rating to a b- rating in a research report on Wednesday, November 8th. Jefferies Group started coverage on Golden Entertainment in a research report on Thursday, January 18th. They set a buy rating and a $38.00 price objective on the stock. Finally, Macquarie started coverage on Golden Entertainment in a research report on Wednesday, October 25th. They set an outperform rating and a $35.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Golden Entertainment has an average rating of Hold and a consensus price target of $36.50.

Shares of Golden Entertainment (GDEN) traded up $0.43 during trading on Wednesday, reaching $28.91. The company had a trading volume of 148,500 shares, compared to its average volume of 313,550. 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 $752.23, a P/E ratio of 26.28 and a beta of 0.19. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.52 and a current ratio of 1.59.

In other Golden Entertainment news, Director Lyle Berman sold 750,000 shares of the firm’s stock in a transaction on 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 owns 1,642,841 shares of the company’s stock, valued at $43,765,284.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Blake L. Sartini sold 953,506 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total value of $25,401,399.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,750,000 shares of company stock valued at $153,180,000. 52.00% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Nationwide Fund Advisors increased its stake in Golden Entertainment by 11.8% during the second quarter. Nationwide Fund Advisors now owns 6,360 shares of the company’s stock worth $132,000 after acquiring an additional 671 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Golden Entertainment by 10.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 20,600 shares of the company’s stock worth $503,000 after acquiring an additional 1,900 shares during the last quarter. Wells Fargo & Company MN increased its stake in Golden Entertainment by 13.3% during the second quarter. Wells Fargo & Company MN now owns 27,131 shares of the company’s stock worth $562,000 after acquiring an additional 3,175 shares during the last quarter. Bessemer Group Inc. increased its stake in Golden Entertainment by 194.4% during the fourth quarter. Bessemer Group Inc. now owns 5,300 shares of the company’s stock worth $173,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its stake in Golden Entertainment by 2.3% during the fourth quarter. Driehaus Capital Management LLC now owns 167,838 shares of the company’s stock worth $5,480,000 after acquiring an additional 3,713 shares during the last quarter. 23.65% of the stock is owned by institutional investors.

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Golden Entertainment Company Profile

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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