Golden Entertainment (GDEN) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of Golden Entertainment (NASDAQ:GDEN) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Golden Entertainment, Inc. is a diverse gaming company which offers casino, distribute gaming and lottery services. The company’s gaming divisions consists of Golden Casino Group, PT’s Entertainment Group and Golden Route Operations. Golden Entertainment, Inc., formerly known as Lakes Entertainment, Inc., is based in Las Vegas, United States. “

Several other research firms have also commented on GDEN. BidaskClub upgraded shares of Golden Entertainment from a hold rating to a buy rating in a research report on Wednesday, July 18th. Jefferies Financial Group boosted their price objective on shares of Golden Entertainment from $38.00 to $40.00 and gave the stock a buy rating in a research report on Thursday, August 9th. TheStreet lowered shares of Golden Entertainment from a b rating to a c rating in a research report on Wednesday, August 15th. Deutsche Bank began coverage on shares of Golden Entertainment in a research report on Thursday, October 4th. They issued a buy rating and a $40.00 price objective on the stock. Finally, ValuEngine lowered shares of Golden Entertainment from a buy rating to a hold rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Golden Entertainment currently has a consensus rating of Hold and a consensus target price of $37.50.

Shares of NASDAQ GDEN opened at $22.08 on Wednesday. The firm has a market cap of $660.56 million, a price-to-earnings ratio of 64.94, a P/E/G ratio of 3.12 and a beta of 0.55. Golden Entertainment has a one year low of $21.48 and a one year high of $34.75. The company has a debt-to-equity ratio of 2.69, a quick ratio of 2.29 and a current ratio of 2.38.

Golden Entertainment (NASDAQ:GDEN) last issued its earnings results on Wednesday, August 8th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.11). Golden Entertainment had a return on equity of 1.89% and a net margin of 0.36%. The company had revenue of $216.54 million for the quarter, compared to analysts’ expectations of $223.40 million. Analysts forecast that Golden Entertainment will post 0.77 EPS for the current year.

In related news, COO Stephen A. Arcana sold 11,350 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $29.03, for a total value of $329,490.50. Following the completion of the transaction, the chief operating officer now owns 68,434 shares of the company’s stock, valued at approximately $1,986,639.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lyle Berman sold 141,685 shares of the business’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $24.50, for a total transaction of $3,471,282.50. Following the completion of the transaction, the director now directly owns 898,293 shares of the company’s stock, valued at approximately $22,008,178.50. The disclosure for this sale can be found here. Insiders sold a total of 210,024 shares of company stock worth $5,390,719 over the last quarter. Insiders own 33.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Northern Trust Corp raised its stake in Golden Entertainment by 9.9% in the 2nd quarter. Northern Trust Corp now owns 218,949 shares of the company’s stock valued at $5,909,000 after purchasing an additional 19,753 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Golden Entertainment in the 2nd quarter valued at about $1,083,000. WINTON GROUP Ltd acquired a new position in Golden Entertainment in the 2nd quarter valued at about $867,000. Millennium Management LLC acquired a new position in Golden Entertainment in the 2nd quarter valued at about $7,745,000. Finally, PEAK6 Investments L.P. raised its stake in Golden Entertainment by 648.1% in the 2nd quarter. PEAK6 Investments L.P. now owns 99,607 shares of the company’s stock valued at $2,688,000 after purchasing an additional 86,293 shares during the last quarter. 63.44% of the stock is owned by hedge funds and other institutional investors.

Golden Entertainment Company Profile

Golden Entertainment, Inc, together with its subsidiaries, focuses on distributed gaming, and resort casino operations in the United States. The Distributed Gaming segment is involved in the installation, maintenance, and operation of slots and amusement devices in non-casino locations, such as grocery stores, convenience stores, restaurants, bars, taverns, and liquor stores; and operation of branded taverns targeting local patrons primarily in the greater Las Vegas, Nevada metropolitan area.

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