Golden Entertainment, Inc. (NASDAQ:GDEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, May 12th. The brokerage presently has a $18.00 target price on the stock. Zacks Investment Research‘s target price points to a potential downside of 13.17% from the stock’s current price.
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. “
Separately, SunTrust Banks, Inc. upgraded shares of Golden Entertainment from a “neutral” rating to a “buy” rating in a report on Thursday, February 9th. They noted that the move was a valuation call.
Shares of Golden Entertainment (NASDAQ:GDEN) traded up 0.83% during mid-day trading on Friday, hitting $20.73. The stock had a trading volume of 102,278 shares. The firm has a market cap of $461.26 million, a PE ratio of 24.13 and a beta of 0.06. Golden Entertainment has a 52-week low of $8.65 and a 52-week high of $21.07. The firm has a 50 day moving average price of $16.78 and a 200 day moving average price of $13.53.
Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.13 by $0.10. Golden Entertainment had a net margin of 4.63% and a return on equity of 6.99%. The company had revenue of $106.65 million for the quarter, compared to analyst estimates of $106.90 million. Equities analysts predict that Golden Entertainment will post $0.82 EPS for the current year.
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An institutional investor recently raised its position in Golden Entertainment stock. Lafitte Capital Management LP raised its position in shares of Golden Entertainment, Inc. (NASDAQ:GDEN) by 21.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 438,885 shares of the company’s stock after buying an additional 78,055 shares during the period. Golden Entertainment accounts for approximately 3.2% of Lafitte Capital Management LP’s portfolio, making the stock its 10th largest position. Lafitte Capital Management LP owned 1.97% of Golden Entertainment worth $5,806,000 as of its most recent SEC filing. Institutional investors own 28.36% of the company’s stock.
About Golden Entertainment
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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