Golden Entertainment (NASDAQ:GDEN) Stock Crosses Below 50 Day Moving Average – What’s Next?

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) passed below its fifty day moving average during trading on Friday . The stock has a fifty 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 changing hands.

Analyst Ratings Changes

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

Golden Entertainment Trading Down 0.8%

The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $704.77 million, a price-to-earnings ratio of 149.56 and a beta of 1.50. The firm has a 50-day moving average of $27.81 and a 200 day moving average of $26.10.

Golden Entertainment (NASDAQ:GDEN) last released 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 return on equity of 1.20% and a net margin of 0.85%.The business had revenue of $154.82 million during the quarter, compared to the consensus estimate of $157.21 million. As a group, equities analysts predict that Golden Entertainment, Inc. will post 0.2 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Monday, December 22nd were given 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 payout ratio is 555.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. DAVENPORT & Co LLC lifted its position in Golden Entertainment by 2.5% in the third quarter. DAVENPORT & Co LLC now owns 1,521,937 shares of the company’s stock worth $35,692,000 after purchasing an additional 37,055 shares during the period. Gamco Investors INC. ET AL boosted its stake in Golden Entertainment by 3.8% during the third quarter. Gamco Investors INC. ET AL now owns 901,138 shares of the company’s stock valued at $21,249,000 after buying an additional 32,992 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in Golden Entertainment by 2.9% during the third quarter. Deprince Race & Zollo Inc. now owns 839,494 shares of the company’s stock worth $19,795,000 after acquiring an additional 23,476 shares during the period. Hill Path Capital LP raised its position in Golden Entertainment by 477.8% in the second quarter. Hill Path Capital LP now owns 655,625 shares of the company’s stock worth $19,295,000 after acquiring an additional 542,150 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Golden Entertainment by 4.1% in the 2nd quarter. Jennison Associates LLC now owns 543,982 shares of the company’s stock valued at $16,009,000 after acquiring an additional 21,415 shares during the last quarter. 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.