Truist Financial Cuts Golden Entertainment (NASDAQ:GDEN) Price Target to $44.00

Golden Entertainment (NASDAQ:GDEN) had its price target lowered by Truist Financial from $45.00 to $44.00 in a report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently commented on GDEN. JMP Securities lowered their target price on Golden Entertainment from $48.00 to $45.00 and set a market outperform rating for the company in a report on Friday, March 1st. StockNews.com downgraded shares of Golden Entertainment from a buy rating to a hold rating in a research note on Monday, March 4th.

Golden Entertainment Stock Down 3.7 %

Shares of GDEN opened at $33.22 on Tuesday. The company has a market capitalization of $961.72 million, a price-to-earnings ratio of 4.01 and a beta of 2.25. Golden Entertainment has a 52 week low of $30.38 and a 52 week high of $47.49. The stock’s 50-day moving average price is $35.03 and its 200-day moving average price is $36.58. The company has a quick ratio of 2.30, a current ratio of 2.35 and a debt-to-equity ratio of 1.22.

Golden Entertainment (NASDAQ:GDEN) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The company had revenue of $230.69 million for the quarter, compared to analyst estimates of $228.75 million. Golden Entertainment had a return on equity of 6.40% and a net margin of 24.28%. On average, sell-side analysts predict that Golden Entertainment will post 1.21 EPS for the current year.

Golden Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 18th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.01%. Golden Entertainment’s payout ratio is 12.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Golden Entertainment by 86.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,048 shares of the company’s stock worth $36,000 after acquiring an additional 487 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Golden Entertainment by 44.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,012 shares of the company’s stock worth $171,000 after acquiring an additional 1,549 shares in the last quarter. Inscription Capital LLC acquired a new position in shares of Golden Entertainment during the 1st quarter worth about $226,000. New York State Teachers Retirement System boosted its position in shares of Golden Entertainment by 6.7% during the 1st quarter. New York State Teachers Retirement System now owns 6,272 shares of the company’s stock worth $231,000 after acquiring an additional 394 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Golden Entertainment during the 4th quarter worth about $386,000. 70.73% of the stock is owned by institutional investors and hedge funds.

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.