Golden Entertainment, Inc. (NASDAQ:GDEN) Short Interest Update


Golden Entertainment, Inc. (NASDAQ:GDEN – Get Rating) was the target of a sharp surge in short interest in August. As of August 31, there was short interest totaling 1,560,000 shares, a 6.1% increase from the August 15 total of 1,470,000 shares. Based on an average daily trading volume of 197,700 shares, the short interest ratio is currently 7.9 days. Currently 8.0% of the company’s shares are shorted.

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 15. B. Riley lowered its price target on Golden Entertainment to $70.00 from $75.00 and gave the company a “buy” rating in a research note on Tuesday, June 28. JMP Securities began coverage of Golden Entertainment in a research note on Tuesday, June 28th. They assigned an Outperform rating and a price target of $63.00 for the company. Finally, Deutsche Bank Aktiengesellschaft lowered its target price on Golden Entertainment from $57.00 to $51.00 and issued a research note with a “buy” rating on the company on Wednesday, July 13th. Seven analysts have given the stock a buy rating. According to data from MarketBeat, Golden Entertainment has an average rating of buy and an average target price of $63.33.

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Golden Entertainment stock performance

NASDAQ GDEN shares fell $0.38 on Tuesday afternoon to hit $38.73. The company’s shares had a trading volume of 7,043 shares compared to an average volume of 245,198. Golden Entertainment has a 12-month low of $36.31 and a 12-month high of $59.96. The company 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 cap of $1.10 billion, a P/E 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 earnings per share of $0.70 for the quarter, falling short of analyst consensus estimates of $0.90 ($0.20). Golden Entertainment had a return on equity of 32.87% and a net margin of 9.35%. The company posted revenue of $289.37 million for the quarter, compared to analysts’ expectations of $287.81 million. As a group, equity analysts are forecasting that Golden Entertainment will report earnings per share of 3.27 for the current year.

Hedge funds rely on Golden Entertainment

Several institutional investors have recently bought and sold shares in the company. The Texas Permanent School Fund increased its holding in Golden Entertainment by 1.7% during the second quarter. The Texas Permanent School Fund now owns 14,669 shares of the company’s stock, valued at $580,000, after purchasing an additional 249 shares last quarter. Credit Suisse AG increased its stake in Golden Entertainment by 2.3% in the second quarter. Credit Suisse AG now owns 13,905 shares of the company, valued at $549,000, after buying an additional 316 shares last quarter. Point72 Hong Kong Ltd increased its stake in Golden Entertainment by 161.5% in the first quarter. Point72 Hong Kong Ltd now owns 544 shares of the company, valued at $32,000, after purchasing a further 336 shares last quarter. Deutsche Bank AG increased 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 last quarter. Finally, PDT Partners LLC increased its stake in Golden Entertainment by 1.4% during 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 last quarter. Hedge funds and other institutional investors own 72.03% of the company’s shares.

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Company Profile of Golden Entertainment

(received rating)

Golden Entertainment, Inc, together with its subsidiaries, is engaged in owning and operating 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 includes destination casino resorts that include various dining options, entertainment options, and other amenities.

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