Truist Financial Issues Positive Forecast for Golden Entertainment (NASDAQ:GDEN) Stock Price

Golden Entertainment (NASDAQ:GDEN) had its target price hoisted by equities research analysts at Truist Financial from $25.00 to $30.00 in a report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential upside of 2.46% from the stock’s current price.

GDEN has been the subject of a number of other reports. Wells Fargo & Company reissued a “sell” rating and issued a $30.00 price target (down from $34.00) on shares of Golden Entertainment in a research note on Thursday. Weiss Ratings raised shares of Golden Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Zacks Research raised shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Macquarie cut their price objective on shares of Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Finally, Citigroup reissued an “outperform” rating on shares of Golden Entertainment in a report on Tuesday, September 16th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.60.

Golden Entertainment Stock Performance

Golden Entertainment stock traded up $0.76 during midday trading on Friday, reaching $29.28. The stock had a trading volume of 1,163,676 shares, compared to its average volume of 228,353. The firm’s 50-day moving average price is $23.17 and its 200 day moving average price is $26.22. Golden Entertainment has a 12 month low of $19.57 and a 12 month high of $35.49. The firm has a market capitalization of $765.91 million, a PE ratio of 54.23 and a beta of 1.67. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.95.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.10). The firm had revenue of $154.82 million during the quarter, compared to the consensus estimate of $157.21 million. Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. As a group, research analysts predict that Golden Entertainment will post 0.2 earnings per share for the current fiscal year.

Institutional Trading of Golden Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hill Path Capital LP grew its holdings in shares of Golden Entertainment by 477.8% during the 2nd quarter. Hill Path Capital LP now owns 655,625 shares of the company’s stock worth $19,295,000 after purchasing an additional 542,150 shares during the period. Long Pond Capital LP purchased a new position in shares of Golden Entertainment in the 1st quarter valued at about $11,474,000. 1060 Capital LLC raised its stake in Golden Entertainment by 328.6% in the first quarter. 1060 Capital LLC now owns 300,000 shares of the company’s stock valued at $7,917,000 after buying an additional 230,000 shares in the last quarter. Penn Capital Management Company LLC increased its stake in Golden Entertainment by 29.3% in the first quarter. Penn Capital Management Company LLC now owns 674,024 shares of the company’s stock valued at $17,827,000 after purchasing an additional 152,805 shares during the last quarter. Finally, Bernzott Capital Advisors raised its stake in Golden Entertainment by 55.2% during the 3rd quarter. Bernzott Capital Advisors now owns 336,288 shares of the company’s stock worth $7,930,000 after acquiring an additional 119,606 shares in the last quarter. Institutional investors and hedge funds own 70.73% of the company’s stock.

Golden Entertainment Company Profile

Golden Entertainment, Inc owns and operates a diversified entertainment platform in the United States. The company operates through four segments; Nevada Casino Resorts, Nevada Locals Casinos, Nevada Taverns, and Distributed Gaming. It also operates casino, casino resorts, and taverns; and slot machines in third party non-casino locations.