Golden Entertainment, Inc. (NASDAQ:GDEN) Sees Large Decrease in Short Interest

Golden Entertainment, Inc. (NASDAQ:GDEN) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totaling 708,028 shares, a decrease of 17.2% from the November 30th total of 855,088 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average daily volume of 322,238 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily volume of 322,238 shares, the days-to-cover ratio is currently 2.2 days. Currently, 3.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hill Path Capital LP lifted its position in Golden Entertainment by 477.8% during the second quarter. Hill Path Capital LP now owns 655,625 shares of the company’s stock worth $19,295,000 after buying an additional 542,150 shares during the period. Trexquant Investment LP grew its position in shares of Golden Entertainment by 419.9% in the 1st quarter. Trexquant Investment LP now owns 42,198 shares of the company’s stock worth $1,114,000 after acquiring an additional 34,081 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Golden Entertainment in the second quarter worth $1,277,000. Strs Ohio acquired a new position in Golden Entertainment in the first quarter worth $298,000. Finally, Parallel Advisors LLC bought a new stake in Golden Entertainment during the second quarter valued at $35,000. 70.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GDEN has been the subject of a number of research reports. JMP Securities reduced their price target on shares of Golden Entertainment from $35.00 to $34.00 and set a “market outperform” rating for the company in a research report on Tuesday, September 16th. Wells Fargo & Company restated a “sell” rating and issued a $30.00 price objective (down previously from $34.00) on shares of Golden Entertainment in a research report on Thursday, November 6th. Citigroup reiterated an “outperform” rating on shares of Golden Entertainment in a research note on Tuesday, September 16th. Zacks Research raised shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Golden Entertainment in a report on Monday. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $32.60.

Golden Entertainment Price Performance

Shares of GDEN stock traded down $0.01 during trading hours on Wednesday, hitting $27.19. The company’s stock had a trading volume of 142,878 shares, compared to its average volume of 251,546. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.96. The business has a fifty day moving average of $26.97 and a 200-day moving average of $26.51. Golden Entertainment has a twelve month low of $19.57 and a twelve month high of $35.49. The stock has a market cap of $711.83 million, a price-to-earnings ratio of 151.06 and a beta of 1.52.

Golden Entertainment (NASDAQ:GDEN) last posted its earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.10). The company had revenue of $154.82 million during the quarter, compared to analysts’ expectations of $157.21 million. Golden Entertainment had a net margin of 0.85% and a return on equity of 1.20%. As a group, equities research analysts anticipate that Golden Entertainment will post 0.2 EPS for the current year.

Golden Entertainment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Monday, December 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, December 22nd. Golden Entertainment’s dividend payout ratio (DPR) is currently 555.56%.

Golden Entertainment Company Profile

Golden Entertainment, Inc is a diversified gaming and hospitality company that operates in the casino, tavern-casino and slot route markets. The company’s core activities encompass the ownership and management of full-service resort casinos, a portfolio of branded neighborhood tavern-casinos and a large slot distribution network. Headquartered in Summerlin, Nevada, Golden Entertainment serves leisure and local gaming customers across multiple Western U.S. markets.

In its casino and tavern-casino segment, Golden Entertainment owns and operates properties such as Bronco Billy’s Casino & Hotel in Cripple Creek, Colorado, along with a collection of PT’s branded venues throughout Southern Nevada.