Golden Entertainment, Inc. (NASDAQ:GDEN – Get Rating) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,560,000 shares, a growth of 6.1% from the August 15th total of 1,470,000 shares. Based on an average daily trading volume, of 197,700 shares, the short-interest ratio is presently 7.9 days. Currently, 8.0% of the company’s stock are sold short.
Analyst Upgrades and Downgrades
GDEN has been the subject of a number of analyst reports. StockNews.com upgraded Golden Entertainment from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. B. Riley cut their price target on Golden Entertainment from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, June 28th. JMP Securities initiated coverage on Golden Entertainment in a research note on Tuesday, June 28th. They set an “outperform” rating and a $63.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Golden Entertainment from $57.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Golden Entertainment has an average rating of “Buy” and an average target price of $63.33.
Golden Entertainment Stock Performance
Shares of NASDAQ GDEN traded down $0.38 during midday trading on Tuesday, reaching $38.73. The company’s stock had a trading volume of 7,043 shares, compared to its average volume of 245,198. Golden Entertainment has a 12-month low of $36.31 and a 12-month high of $59.96. The firm has a 50 day moving average price of $40.77 and a 200-day moving average price of $45.75. The stock has a market capitalization of $1.10 billion, a P/E ratio of 11.89 and a beta of 2.51. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.91 and a quick ratio of 1.85.
Golden Entertainment (NASDAQ:GDEN – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.20). Golden Entertainment had a return on equity of 32.87% and a net margin of 9.35%. The business had revenue of $289.37 million during the quarter, compared to analysts’ expectations of $287.81 million. As a group, equities analysts predict that Golden Entertainment will post 3.27 earnings per share for the current year.
Hedge Funds Weigh In On Golden Entertainment
Several institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund lifted its stake in Golden Entertainment by 1.7% in the second quarter. Texas Permanent School Fund now owns 14,669 shares of the company’s stock valued at $580,000 after purchasing an additional 249 shares during the last quarter. Credit Suisse AG lifted its stake in Golden Entertainment by 2.3% in the second quarter. Credit Suisse AG now owns 13,905 shares of the company’s stock valued at $549,000 after purchasing an additional 316 shares during the last quarter. Point72 Hong Kong Ltd lifted its stake in Golden Entertainment by 161.5% in the first quarter. Point72 Hong Kong Ltd now owns 544 shares of the company’s stock valued at $32,000 after purchasing an additional 336 shares during the last quarter. Deutsche Bank AG lifted its stake in Golden Entertainment by 1.2% in the second quarter. Deutsche Bank AG now owns 29,435 shares of the company’s stock valued at $1,164,000 after purchasing an additional 349 shares during the last quarter. Finally, PDT Partners LLC lifted its stake in Golden Entertainment by 1.4% in the first quarter. PDT Partners LLC now owns 36,631 shares of the company’s stock valued at $2,127,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 72.03% of the company’s stock.
Golden Entertainment Company Profile
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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Read More: Golden Entertainment, Inc. (NASDAQ:GDEN) Short Interest Update