Short Interest in Golden Entertainment, Inc. (NASDAQ:GDEN) Drops By 13.8%

Golden Entertainment, Inc. (NASDAQ:GDEN) was the target of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 640,591 shares, a drop of 13.8% from the February 12th total of 742,933 shares. Based on an average daily volume of 161,672 shares, the days-to-cover ratio is presently 4.0 days. Currently, 3.4% of the shares of the stock are sold short. Currently, 3.4% of the shares of the stock are sold short. Based on an average daily volume of 161,672 shares, the days-to-cover ratio is presently 4.0 days.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research raised Golden Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Citigroup restated a “market perform” rating on shares of Golden Entertainment in a research note on Tuesday, March 10th. Finally, Weiss Ratings downgraded Golden Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.75.

Institutional Investors Weigh In On Golden Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of GDEN. Jane Street Group LLC raised its position in Golden Entertainment by 22.9% in the 1st quarter. Jane Street Group LLC now owns 34,913 shares of the company’s stock valued at $921,000 after purchasing an additional 6,498 shares during the last quarter. Geode Capital Management LLC grew its position in Golden Entertainment by 4.9% during the 2nd quarter. Geode Capital Management LLC now owns 508,110 shares of the company’s stock worth $14,956,000 after purchasing an additional 23,542 shares during the last quarter. Creative Planning acquired a new position in Golden Entertainment in the second quarter valued at $201,000. Legal & General Group Plc raised its holdings in shares of Golden Entertainment by 2.5% in the second quarter. Legal & General Group Plc now owns 56,180 shares of the company’s stock valued at $1,653,000 after buying an additional 1,353 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Golden Entertainment by 6.0% in the second quarter. Prudential Financial Inc. now owns 21,873 shares of the company’s stock valued at $644,000 after buying an additional 1,235 shares during the last quarter. 70.73% of the stock is currently owned by institutional investors and hedge funds.

Golden Entertainment Price Performance

GDEN stock opened at $26.99 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $707.14 million, a PE ratio of -107.96 and a beta of 1.41. The business’s fifty day moving average price is $28.00 and its 200 day moving average price is $26.45. Golden Entertainment has a 12-month low of $19.57 and a 12-month high of $32.74.

Golden Entertainment (NASDAQ:GDEN) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.12). The business had revenue of $155.63 million during the quarter, compared to analysts’ expectations of $166.61 million. Golden Entertainment had a negative net margin of 0.95% and a positive return on equity of 0.51%. On average, sell-side analysts anticipate that Golden Entertainment will post 0.2 EPS for the current year.

Golden Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, March 18th. Golden Entertainment’s dividend payout ratio is currently -400.00%.

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.