Golden Entertainment, Inc. (NASDAQ:GDEN – Get Rating) COO Stephen Arcana sold 12,500 shares of the company in a transaction that took place on Wednesday, October 5. The shares were sold at an average price of $37.96, for a total value of $474,500.00. Following the completion of the sale, the COO now directly owns 306,191 shares of the company, valued at $11,623,010.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Golden Entertainment shares fell 0.8%
Shares of GDEN traded down $0.30 during trading hours on Friday, reaching $38.18. The company had a trading volume of 168,287 shares, compared to its average volume of 283,781. The company has a market cap of $1.09 billion, a PE ratio of 11.55, and a beta of 2.42. The company has a current ratio of 1.91, a quick ratio of 1.85, and a debt-to-equity ratio of 2.84. Golden Entertainment, Inc. has a one year minimum of $32.53 and a one year maximum of $59.96. The firm’s 50-day moving average price is $39.60 and its 200-day moving average price is $44.21.
Golden Entertainment (NASDAQ:GDEN – Get Rating) last released its quarterly earnings results on Thursday, August 4. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.90 per ($0.20). The company had revenue of $289.37 million during the quarter, compared to the consensus estimate of $287.81 million. Golden Entertainment had a return on equity of 32.87% and a net margin of 9.35%. As a group, stock analysts forecast Golden Entertainment, Inc. to post 3.26 earnings per share for the current fiscal year.
Wall Street analysts forecast growth
GDEN has been the subject of several investigative reports. StockNews.com upgraded Golden Entertainment from a “hold” rating to a “buy” rating in a report dated Monday, August 15. JMP Securities kicked off coverage of Golden Entertainment in a report on Tuesday, June 28. They issued an “outperform” rating and a $63.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered its price target on Golden Entertainment from $57.00 to $51.00 and set a “buy” rating on the company in a report on Wednesday, July 13. Ultimately, B. Riley lowered his price target on Golden Entertainment from $75.00 to $70.00 and set a “buy” rating on the company in a report Tuesday, June 28. Seven equity research analysts have rated the stock with a buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $63.33.
Institutional entrances and exits
Several hedge funds have recently increased or decreased their holdings in GDEN. BlackRock Inc. increased its position in Golden Entertainment by 155.9% during the first quarter. BlackRock Inc. now owns 2,908,507 shares of the company valued at $168,896,000 after buying an additional 1,771,873 shares last quarter. Capital Research Global Investors increased its position in Golden Entertainment by 27.1% during the first quarter. Capital Research Global Investors now owns 2,066,100 shares of the company valued at $119,978,000 after buying an additional 441,100 shares in the last quarter. State Street Corp increased its position in Golden Entertainment by 75.6% during the first quarter. State Street Corp now owns 638,151 shares of the company valued at $37,057,000 after purchasing an additional 274,805 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Golden Entertainment by 457.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 301,200 shares of the company valued at $17,491,000 after purchasing an additional 247,200 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Golden Entertainment stock by 20.8% in the first quarter. Vanguard Group Inc. now owns 1,322,194 shares of the company valued at $76,780,000 after purchasing an additional 227,562 shares during the period. 72.03% of the shares are owned by institutional investors and hedge funds.
About Golden Entertainment
Golden Entertainment, Inc, along with its subsidiaries, is involved in the ownership and operation of a diversified entertainment platform in the United States. The company operates through four segments: Nevada Casino Resorts, Nevada Locals Casinos, Maryland Casino Resort, and Distributed Gaming. The Nevada Casino Resorts segment is comprised of destination casino resort properties that include various food and beverage outlets, entertainment venues and other amenities.
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