Golden Entertainment (NASDAQ:GDEN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Golden Entertainment (NASDAQ:GDEN – Get Rating) in a research note released on Thursday morning. The brokerage issued a buy rating on the stock.

Several other research firms have also commented on GDEN. JPMorgan Chase & Co. raised their price objective on Golden Entertainment from $51.00 to $53.00 and gave the company an overweight rating in a research report on Thursday, March 2nd. JMP Securities restated a market outperform rating and set a $57.00 target price on shares of Golden Entertainment in a research note on Thursday, March 2nd. Finally, Jefferies Financial Group downgraded Golden Entertainment from a buy rating to a hold rating and lowered their target price for the company from $60.00 to $43.00 in a research note on Monday, January 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $55.33.

Golden Entertainment Price Performance

Shares of NASDAQ:GDEN opened at $41.07 on Thursday. The business’s fifty day moving average price is $40.32 and its two-hundred day moving average price is $40.16. The stock has a market cap of $1.16 billion, a PE ratio of 15.86 and a beta of 2.38. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.78 and a current ratio of 1.84. Golden Entertainment has a one year low of $32.53 and a one year high of $59.96.

Golden Entertainment (NASDAQ:GDEN – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.25). The business had revenue of $279.71 million for the quarter, compared to analysts’ expectations of $280.51 million. Golden Entertainment had a return on equity of 24.23% and a net margin of 7.34%. On average, analysts forecast that Golden Entertainment will post 2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Golden Entertainment

Hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd raised its holdings in shares of Golden Entertainment by 161.5% during the first quarter. Point72 Hong Kong Ltd now owns 544 shares of the company’s stock valued at $32,000 after buying an additional 336 shares during the last quarter. Dorsey Wright & Associates acquired a new position in Golden Entertainment in the fourth quarter worth approximately $39,000. Tower Research Capital LLC TRC grew its position in Golden Entertainment by 88.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,716 shares of the company’s stock worth $60,000 after buying an additional 803 shares during the last quarter. UBS Group AG grew its position in Golden Entertainment by 82.1% in the third quarter. UBS Group AG now owns 3,407 shares of the company’s stock worth $119,000 after buying an additional 1,536 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Golden Entertainment by 32.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,463 shares of the company’s stock worth $130,000 after buying an additional 846 shares during the last quarter. Institutional investors own 68.63% of the company’s stock.

About Golden Entertainment

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Golden Entertainment, Inc engages in the development, finance, management, and ownership of casino properties. It operates through the following segments: Distributed Gaming and Casinos. The Distributed Gaming segment is involved in the installation, maintenance, and operation of slots and amusement devices in non-casino locations such as grocery, convenience and liquor stores, restaurants, bars, and taverns, and the operation of wholly-owned branded taverns targeting local patrons.