Golden Entertainment (NASDAQ:GDEN) Shares Cross Above Fifty Day Moving Average – Here’s Why

Golden Entertainment, Inc. (NASDAQ:GDEN) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $32.31 and traded as high as $34.38. Golden Entertainment shares last traded at $34.09, with a volume of 208,081 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. StockNews.com cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Jefferies Financial Group raised their price objective on shares of Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Macquarie dropped their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company initiated coverage on shares of Golden Entertainment in a research note on Monday, December 16th. They set an “overweight” rating and a $38.00 price objective for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $36.00 target price on shares of Golden Entertainment in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

Golden Entertainment Price Performance

The stock has a market capitalization of $935.09 million, a PE ratio of 27.49 and a beta of 2.21. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. The company’s 50 day simple moving average is $32.31 and its 200 day simple moving average is $31.70.

Insider Activity

In other news, Director Terrence Wright sold 16,586 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 61,616 shares of the company’s stock, valued at $1,926,116.16. The trade was a 21.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Golden Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its holdings in shares of Golden Entertainment by 7.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,500 shares of the company’s stock valued at $143,000 after acquiring an additional 317 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Golden Entertainment by 1.9% during the 3rd quarter. HighTower Advisors LLC now owns 17,580 shares of the company’s stock valued at $557,000 after acquiring an additional 333 shares in the last quarter. Beacon Investment Advisors LLC lifted its holdings in shares of Golden Entertainment by 0.8% during the 4th quarter. Beacon Investment Advisors LLC now owns 44,559 shares of the company’s stock valued at $1,408,000 after acquiring an additional 333 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Golden Entertainment by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 8,420 shares of the company’s stock valued at $268,000 after acquiring an additional 402 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of Golden Entertainment by 6.4% during the 3rd quarter. New York State Teachers Retirement System now owns 8,230 shares of the company’s stock valued at $262,000 after acquiring an additional 494 shares in the last quarter. 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.