Golden Entertainment (NASDAQ:GDEN) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Golden Entertainment (NASDAQ:GDEN) in a report issued on Monday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $38.00 price target on the stock.

Several other research firms have also recently weighed in on GDEN. Macquarie decreased their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. B. Riley lowered their price objective on Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. StockNews.com upgraded Golden Entertainment from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Truist Financial lowered their target price on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, JMP Securities increased their price target on Golden Entertainment from $35.00 to $36.00 and gave the stock a “market outperform” rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

Golden Entertainment Stock Performance

Shares of GDEN stock opened at $31.08 on Monday. The stock has a market capitalization of $852.49 million, a PE ratio of 25.06 and a beta of 2.22. The business’s 50 day simple moving average is $31.96 and its 200 day simple moving average is $31.14. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.11 and a quick ratio of 1.03. Golden Entertainment has a one year low of $27.42 and a one year high of $41.98.

Golden Entertainment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 20th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 3.22%. Golden Entertainment’s dividend payout ratio (DPR) is presently 80.65%.

Hedge Funds Weigh In On Golden Entertainment

A number of institutional investors have recently modified their holdings of GDEN. William Blair Investment Management LLC increased its stake in Golden Entertainment by 132.1% during the 2nd quarter. William Blair Investment Management LLC now owns 1,486,689 shares of the company’s stock valued at $46,251,000 after purchasing an additional 846,269 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Golden Entertainment by 4.3% during the third quarter. Geode Capital Management LLC now owns 587,006 shares of the company’s stock valued at $18,664,000 after buying an additional 24,264 shares during the last quarter. Systematic Financial Management LP increased its position in shares of Golden Entertainment by 24.5% during the third quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock worth $11,197,000 after acquiring an additional 69,207 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Golden Entertainment by 16.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,709 shares of the company’s stock worth $8,860,000 after acquiring an additional 38,385 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its position in Golden Entertainment by 43.0% in the 2nd quarter. Peregrine Capital Management LLC now owns 248,875 shares of the company’s stock valued at $7,743,000 after acquiring an additional 74,867 shares in the last quarter. 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.