Brokerages Set Golden Entertainment Inc (GDEN) Price Target at $36.50

Golden Entertainment Inc (NASDAQ:GDEN) has been given a consensus recommendation of “Hold” by the six brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $36.50.

A number of research firms have commented on GDEN. BidaskClub cut Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday. TheStreet raised Golden Entertainment from a “c” rating to a “b-” rating in a report on Wednesday, November 8th. Macquarie began coverage on Golden Entertainment in a report on Wednesday, October 25th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Jefferies Group began coverage on Golden Entertainment in a report on Thursday, January 18th. They set a “buy” rating and a $38.00 price target on the stock.

In other news, Chairman Blake L. Sartini sold 953,506 shares of Golden Entertainment stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total value of $25,401,399.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,046,494 shares of Golden Entertainment stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total value of $107,798,600.16. The disclosure for this sale can be found here. Insiders sold 5,750,000 shares of company stock worth $153,180,000 over the last ninety days. Insiders own 52.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new stake in shares of Golden Entertainment in the fourth quarter worth about $131,600,000. BlackRock Inc. increased its holdings in shares of Golden Entertainment by 7.7% in the fourth quarter. BlackRock Inc. now owns 544,913 shares of the company’s stock worth $17,791,000 after purchasing an additional 38,732 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Golden Entertainment by 48.1% in the fourth quarter. Renaissance Technologies LLC now owns 475,397 shares of the company’s stock worth $15,522,000 after purchasing an additional 154,397 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Golden Entertainment by 19.5% in the second quarter. Vanguard Group Inc. now owns 394,913 shares of the company’s stock worth $8,179,000 after purchasing an additional 64,501 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Golden Entertainment by 8.3% in the second quarter. State Street Corp now owns 188,575 shares of the company’s stock worth $3,901,000 after purchasing an additional 14,459 shares during the last quarter. 23.65% of the stock is currently owned by hedge funds and other institutional investors.

Golden Entertainment (NASDAQ GDEN) traded down $0.10 during trading hours on Monday, reaching $28.74. The company’s stock had a trading volume of 249,051 shares, compared to its average volume of 330,619. The company has a current ratio of 1.59, a quick ratio of 1.52 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $756.47, a PE ratio of 26.13 and a beta of 0.19. Golden Entertainment has a twelve month low of $11.12 and a twelve month high of $34.75.

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Golden Entertainment Company Profile

Golden Entertainment, Inc is a group of gaming companies. The Company focuses on distributed gaming, including tavern gaming, and casino and resort operations. It operates through two segments: Distributed Gaming and Casinos. Its Distributed Gaming segment involves the installation, maintenance and operation of gaming and amusement devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars, taverns, saloons and liquor stores) in Nevada and Montana, and the operation of traditional, branded taverns targeting local patrons, primarily in the greater Las Vegas, Nevada metropolitan area.

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