Golden Entertainment (NASDAQ:GDEN) Upgraded to “Buy” by Zacks Investment Research

Golden Entertainment (NASDAQ:GDEN – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The firm currently has a $57.00 price objective on the stock. Zacks Investment Research‘s price target suggests a potential upside of 15.52% from the stock’s previous close.

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. “

Other equities analysts have also issued reports about the stock. StockNews.com began coverage on shares of Golden Entertainment in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Macquarie increased their price target on Golden Entertainment from $64.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, February 18th. Roth Capital began coverage on Golden Entertainment in a report on Wednesday, February 16th. They set a “buy” rating and a $70.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Golden Entertainment from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, February 18th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $65.67.

Shares of GDEN traded down $1.75 during mid-day trading on Friday, reaching $49.34. 144,121 shares of the company’s stock were exchanged, compared to its average volume of 371,046. The company has a debt-to-equity ratio of 3.16, a current ratio of 2.08 and a quick ratio of 2.03. The stock has a market capitalization of $1.43 billion, a PE ratio of 9.66 and a beta of 2.62. The business’s fifty day simple moving average is $54.68 and its 200-day simple moving average is $50.78. Golden Entertainment has a 52-week low of $29.10 and a 52-week high of $59.96.

Golden Entertainment (NASDAQ:GDEN – Get Rating) last announced its earnings results on Thursday, February 17th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). The business had revenue of $281.96 million for the quarter, compared to analysts’ expectations of $264.84 million. Golden Entertainment had a return on equity of 54.07% and a net margin of 14.75%. During the same quarter last year, the business posted ($0.44) earnings per share. Equities research analysts predict that Golden Entertainment will post 3.31 earnings per share for the current year.

In other Golden Entertainment news, CEO Blake L. Sartini sold 600,000 shares of Golden Entertainment stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $46.30, for a total value of $27,780,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Blake L. Sartini sold 168,129 shares of Golden Entertainment stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $56.79, for a total value of $9,548,045.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 860,129 shares of company stock valued at $42,409,156. 41.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in Golden Entertainment during the 1st quarter worth approximately $540,000. Oregon Public Employees Retirement Fund acquired a new position in Golden Entertainment during the 1st quarter worth approximately $453,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Golden Entertainment by 129.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,617 shares of the company’s stock worth $152,000 after acquiring an additional 1,475 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Golden Entertainment during the 1st quarter worth approximately $821,000. Finally, Maryland State Retirement & Pension System acquired a new position in Golden Entertainment during the 1st quarter worth approximately $475,000. 60.69% of the stock is currently owned by institutional investors and hedge funds.

About Golden Entertainment (Get Rating)

Golden Entertainment, Inc, together with its subsidiaries, engages in the ownership and operation of a diversified entertainment platform in the United States. The company operates through four segments: Nevada Casino Resorts, Nevada Locals Casinos, Maryland Casino Resort, and Distributed Gaming. The Nevada Casino Resorts segment comprises of destination casino resort properties that include various food and beverage outlets, entertainment venues, and other amenities.

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