Golden Entertainment (NASDAQ:GDEN) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $32.48 and traded as high as $33.11. Golden Entertainment shares last traded at $33.03, with a volume of 120,614 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GDEN shares. StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Jefferies Financial Group raised their target price on Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Truist Financial lowered their price target on Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. JMP Securities reiterated a “market outperform” rating and issued a $36.00 price objective on shares of Golden Entertainment in a research report on Thursday, January 16th. Finally, Wells Fargo & Company started coverage on Golden Entertainment in a report on Monday, December 16th. They set an “overweight” rating and a $38.00 target price for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Golden Entertainment has a consensus rating of “Moderate Buy” and an average target price of $36.57.

Golden Entertainment Trading Up 0.9 %

The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. The company has a market cap of $906.01 million, a PE ratio of 26.64 and a beta of 2.22. The stock has a 50 day moving average price of $32.48 and a 200 day moving average price of $31.48.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.08. Golden Entertainment had a net margin of 5.23% and a return on equity of 0.69%. The company had revenue of $161.23 million during the quarter, compared to analyst estimates of $162.22 million. During the same period last year, the business earned ($0.02) EPS. Sell-side analysts predict that Golden Entertainment, Inc. will post 0.2 EPS for the current fiscal year.

Golden Entertainment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.03%. Golden Entertainment’s dividend payout ratio is currently 80.65%.

Insider Activity at Golden Entertainment

In other Golden Entertainment news, Director Terrence Wright sold 16,586 shares of Golden Entertainment stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $31.26, for a total value of $518,478.36. Following the completion of the transaction, the director now directly owns 61,616 shares of the company’s stock, valued at approximately $1,926,116.16. The trade was a 21.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 29.10% of the stock is owned by corporate insiders.

Institutional Trading of Golden Entertainment

Several institutional investors have recently added to or reduced their stakes in the business. DAVENPORT & Co LLC increased its holdings in Golden Entertainment by 26.6% in the 4th quarter. DAVENPORT & Co LLC now owns 1,293,163 shares of the company’s stock worth $40,864,000 after buying an additional 271,782 shares in the last quarter. Geode Capital Management LLC lifted its position in 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 purchasing an additional 24,264 shares during the period. Systematic Financial Management LP boosted its holdings in Golden Entertainment by 24.5% in the third quarter. Systematic Financial Management LP now owns 352,227 shares of the company’s stock worth $11,197,000 after purchasing an additional 69,207 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Golden Entertainment by 16.0% in the third 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 period. Finally, Bernzott Capital Advisors boosted its holdings in shares of Golden Entertainment by 7.9% in the third quarter. Bernzott Capital Advisors now owns 247,632 shares of the company’s stock worth $7,872,000 after buying an additional 18,233 shares during the last quarter. 70.73% of the stock is currently owned by hedge funds and other institutional investors.

Golden Entertainment Company Profile

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.