Golden Entertainment (NASDAQ:GDEN) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other brokerages have also recently commented on GDEN. Macquarie started coverage on Golden Entertainment in a research note on Wednesday, October 25th. They issued an “outperform” rating and a $35.00 price target for the company. TheStreet raised Golden Entertainment from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. Finally, Jefferies Group started coverage on Golden Entertainment in a research note on Thursday, January 18th. They issued a “buy” rating and a $38.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $36.50.

Shares of Golden Entertainment (NASDAQ GDEN) opened at $28.48 on Wednesday. The company has a market capitalization of $752.23, a P/E ratio of 25.89 and a beta of 0.19. Golden Entertainment has a 12 month low of $11.12 and a 12 month high of $34.75. The company has a quick ratio of 1.52, a current ratio of 1.59 and a debt-to-equity ratio of 0.69.

In other Golden Entertainment news, Chairman Blake L. Sartini sold 953,506 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total transaction of $25,401,399.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,046,494 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total value of $107,798,600.16. The disclosure for this sale can be found here. Insiders have sold 5,750,000 shares of company stock valued at $153,180,000 in the last ninety days. Company insiders own 52.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Ramsey Quantitative Systems bought a new stake in Golden Entertainment during the fourth quarter worth approximately $168,000. Bessemer Group Inc. boosted its position in Golden Entertainment by 194.4% during the fourth quarter. Bessemer Group Inc. now owns 5,300 shares of the company’s stock worth $173,000 after purchasing an additional 3,500 shares during the period. Nationwide Fund Advisors boosted its position in Golden Entertainment by 11.8% during the second quarter. Nationwide Fund Advisors now owns 6,360 shares of the company’s stock worth $132,000 after purchasing an additional 671 shares during the period. Martingale Asset Management L P bought a new stake in Golden Entertainment during the fourth quarter worth approximately $223,000. Finally, Perkins Capital Management Inc. bought a new stake in Golden Entertainment during the fourth quarter worth approximately $257,000. 23.65% of the stock is owned by hedge funds and other institutional investors.

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Golden Entertainment Company Profile

Golden Entertainment, Inc is a group of gaming companies. The Company focuses on distributed gaming, including tavern gaming, and casino and resort operations. It operates through two segments: Distributed Gaming and Casinos. Its Distributed Gaming segment involves the installation, maintenance and operation of gaming and amusement devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars, taverns, saloons and liquor stores) in Nevada and Montana, and the operation of traditional, branded taverns targeting local patrons, primarily in the greater Las Vegas, Nevada metropolitan area.

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