B. Riley Initiates Coverage on Golden Entertainment (NASDAQ:GDEN)

Equities researchers at B. Riley started coverage on shares of Golden Entertainment (NASDAQ:GDEN) in a research note issued to investors on Friday, StockNewsAPI reports. The firm set a “buy” rating and a $46.00 price target on the stock. B. Riley’s target price suggests a potential upside of 41.10% from the company’s current price.

Other analysts have also issued research reports about the company. StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Truist Financial decreased their price objective on Golden Entertainment from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, JMP Securities reduced their price objective on Golden Entertainment from $48.00 to $45.00 and set a “market outperform” rating for the company in a research report on Friday, March 1st.

Golden Entertainment Price Performance

Shares of NASDAQ:GDEN traded down $0.62 during midday trading on Friday, hitting $32.60. 22,069 shares of the stock were exchanged, compared to its average volume of 153,677. The company has a 50 day moving average price of $35.03 and a 200-day moving average price of $36.58. Golden Entertainment has a twelve month low of $30.38 and a twelve month high of $47.49. The stock has a market cap of $943.77 million, a P/E ratio of 4.01 and a beta of 2.25. The company has a current ratio of 2.35, a quick ratio of 2.30 and a debt-to-equity ratio of 1.22.

Golden Entertainment (NASDAQ:GDEN) last released its earnings results on Thursday, February 29th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.07). Golden Entertainment had a net margin of 24.28% and a return on equity of 6.40%. The business had revenue of $230.69 million for the quarter, compared to analysts’ expectations of $228.75 million. On average, research analysts forecast that Golden Entertainment will post 1.21 earnings per share for the current year.

Institutional Trading of Golden Entertainment

Several hedge funds have recently added to or reduced their stakes in GDEN. Sequoia Financial Advisors LLC bought a new stake in shares of Golden Entertainment in the 3rd quarter worth approximately $35,680,000. Gamco Investors INC. ET AL increased its holdings in Golden Entertainment by 156.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 609,050 shares of the company’s stock worth $20,817,000 after acquiring an additional 371,850 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Golden Entertainment by 83.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 251,299 shares of the company’s stock valued at $10,034,000 after buying an additional 114,454 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Golden Entertainment by 33.7% in the third quarter. Jennison Associates LLC now owns 389,455 shares of the company’s stock valued at $13,312,000 after purchasing an additional 98,186 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Golden Entertainment by 111.8% in the third quarter. American Century Companies Inc. now owns 153,059 shares of the company’s stock worth $5,232,000 after buying an additional 80,784 shares during the last quarter. Institutional investors own 70.73% of the company’s stock.

About Golden Entertainment

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.