Terrence Wright Sells 16,586 Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) Stock

Golden Entertainment, Inc. (NASDAQ:GDEN) Director Terrence Wright sold 16,586 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $31.26, for a total transaction of $518,478.36. Following the completion of the sale, the director now owns 61,616 shares of the company’s stock, valued at $1,926,116.16. The trade was a 21.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Golden Entertainment Trading Up 0.2 %

Shares of GDEN stock traded up $0.05 on Friday, reaching $31.12. The company had a trading volume of 1,081,751 shares, compared to its average volume of 221,847. The stock has a market cap of $853.59 million, a PE ratio of 25.10 and a beta of 2.22. The company has a 50-day moving average of $32.06 and a 200-day moving average of $31.15. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. Golden Entertainment, Inc. has a 12 month low of $27.42 and a 12 month high of $40.85.

Golden Entertainment Announces Dividend

The company also recently announced 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. This represents a $1.00 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, December 20th. Golden Entertainment’s payout ratio is presently 80.65%.

Wall Street Analyst Weigh In

GDEN has been the subject of several research analyst reports. Wells Fargo & Company assumed coverage on shares of Golden Entertainment in a research report on Monday. They issued an “overweight” rating and a $38.00 price objective for the company. JMP Securities upped their price target on Golden Entertainment from $35.00 to $36.00 and gave the company a “market outperform” rating in a research note on Monday, November 25th. StockNews.com cut Golden Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday. Truist Financial dropped their price objective 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, Macquarie reduced their target price on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Golden Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

Hedge Funds Weigh In On Golden Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Systematic Financial Management LP increased its stake in Golden Entertainment by 24.5% during the 3rd 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 in the last quarter. Peregrine Capital Management LLC boosted its holdings in shares of Golden Entertainment by 43.0% in the second quarter. Peregrine Capital Management LLC now owns 248,875 shares of the company’s stock valued at $7,743,000 after buying an additional 74,867 shares during the period. Quest Partners LLC bought a new stake in shares of Golden Entertainment during the second quarter worth $1,180,000. SG Americas Securities LLC bought a new stake in shares of Golden Entertainment during the second quarter worth $263,000. Finally, nVerses Capital LLC acquired a new stake in shares of Golden Entertainment during the second quarter worth $37,000. 70.73% of the stock is owned by 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.