Golden Entertainment (GDEN) PT Lowered to $28.00

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Golden Entertainment (NASDAQ:GDEN) had its price target dropped by investment analysts at Jefferies Financial Group from $39.00 to $28.00 in a research report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 74.67% from the company’s previous close. Jefferies Financial Group also issued estimates for Golden Entertainment’s Q3 2019 earnings at $0.31 EPS.

Other equities research analysts have also recently issued reports about the company. BidaskClub cut Golden Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. TheStreet lowered Golden Entertainment from a “b” rating to a “c” rating in a report on Wednesday, August 15th. ValuEngine lowered Golden Entertainment from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Zacks Investment Research lowered Golden Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, August 13th. Finally, Deutsche Bank set a $38.00 price target on Golden Entertainment and gave the company a “buy” rating in a report on Saturday, November 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $30.00.

GDEN stock opened at $16.03 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.50 and a quick ratio of 2.29. Golden Entertainment has a 1 year low of $13.25 and a 1 year high of $34.75.

Golden Entertainment (NASDAQ:GDEN) last posted its earnings results on Thursday, November 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.26). The company had revenue of $210.34 million during the quarter, compared to the consensus estimate of $214.70 million. Golden Entertainment had a negative net margin of 1.09% and a negative return on equity of 1.65%. Research analysts predict that Golden Entertainment will post 0.48 earnings per share for the current year.

In other Golden Entertainment news, SVP Thomas Edwin Haas purchased 2,200 shares of the stock in a transaction dated Wednesday, November 14th. The shares were bought at an average cost of $15.03 per share, with a total value of $33,066.00. Following the completion of the acquisition, the senior vice president now owns 3,736 shares of the company’s stock, valued at $56,152.08. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, COO Stephen A. Arcana sold 11,350 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $29.03, for a total value of $329,490.50. Following the transaction, the chief operating officer now directly owns 68,434 shares in the company, valued at $1,986,639.02. The disclosure for this sale can be found here. Over the last three months, insiders have bought 19,040 shares of company stock worth $268,367 and have sold 210,024 shares worth $5,390,719. 33.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of GDEN. NumerixS Investment Technologies Inc acquired a new position in Golden Entertainment during the second quarter worth about $108,000. Navellier & Associates Inc acquired a new position in Golden Entertainment during the second quarter worth about $202,000. Quantbot Technologies LP grew its holdings in Golden Entertainment by 106.0% during the third quarter. Quantbot Technologies LP now owns 8,633 shares of the company’s stock worth $207,000 after acquiring an additional 4,443 shares during the period. Engineers Gate Manager LP acquired a new position in Golden Entertainment during the third quarter worth about $212,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Golden Entertainment during the second quarter worth about $218,000. 65.71% of the stock is currently owned by institutional investors.

About Golden Entertainment

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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