Golden Entertainment (NASDAQ:GDEN) Sets New 52-Week Low – Time to Sell?

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) reached a new 52-week low during trading on Tuesday . The company traded as low as $27.25 and last traded at $27.32, with a volume of 22589 shares traded. The stock had previously closed at $27.77.

Analysts Set New Price Targets

Several research analysts recently weighed in on GDEN shares. JMP Securities restated a “market outperform” rating and set a $36.00 price target on shares of Golden Entertainment in a research report on Thursday, January 16th. Wells Fargo & Company began coverage on Golden Entertainment in a research note on Monday, December 16th. They issued an “overweight” rating and a $38.00 price target on the stock. Macquarie reiterated an “outperform” rating and issued a $40.00 target price on shares of Golden Entertainment in a research report on Friday, February 28th. Jefferies Financial Group boosted their target price on Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Finally, StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.86.

Golden Entertainment Trading Down 4.5 %

The business’s 50-day simple moving average is $31.83 and its two-hundred day simple moving average is $31.82. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $669.14 million, a price-to-earnings ratio of 20.35 and a beta of 2.29.

Golden Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, March 21st. Golden Entertainment’s payout ratio is 59.88%.

Insider Transactions at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $31.26, for a total transaction of $518,478.36. Following the sale, the director now directly owns 61,616 shares of the company’s stock, valued at $1,926,116.16. This represents a 21.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Golden Entertainment

Several institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Golden Entertainment by 27.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,536 shares of the company’s stock valued at $1,881,000 after purchasing an additional 12,712 shares during the period. Vident Advisory LLC grew its position in shares of Golden Entertainment by 6.8% during the fourth quarter. Vident Advisory LLC now owns 15,397 shares of the company’s stock worth $487,000 after buying an additional 985 shares in the last quarter. State of Wyoming increased its stake in shares of Golden Entertainment by 76.0% during the fourth quarter. State of Wyoming now owns 8,564 shares of the company’s stock worth $271,000 after buying an additional 3,697 shares during the period. Systematic Financial Management LP raised its holdings in Golden Entertainment by 3.2% in the fourth quarter. Systematic Financial Management LP now owns 363,625 shares of the company’s stock valued at $11,491,000 after acquiring an additional 11,398 shares in the last quarter. Finally, SG Capital Management LLC purchased a new position in Golden Entertainment in the fourth quarter worth approximately $677,000. Institutional investors and hedge funds own 70.73% of the company’s stock.

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.