On June 9, 2023, Sei Investments Co. revealed in its most recent Form 13F filing with the Securities & Exchange Commission that it had increased its stake in Golden Entertainment, Inc. by a dramatic 320.6% during the fourth quarter of the previous year. As a result of this investment boost, Sei Investments Co. subsequently owned an impressive total of 80,849 shares in the company worth $3,024,000.
Golden Entertainment operates primarily within two separate segments; Distributed Gaming and Casinos. The Distributed Gaming segment relates to the installation, maintenance, and operation of amusement devices in various non-casino locations such as restaurants, bars and grocery stores across America; it also manages wholly-owned branded taverns targeting local patrons. Meanwhile, casinos managed and owned by Golden Entertainment itself create a significant portion of the company’s revenue.
Recent research reports have similarly highlighted GDEN as a potentially lucrative investment opportunity for stakeholders seeking stock options related to casino-based industries. One such piece from StockNews.com upgraded shares from ‘hold’ to ‘buy,’ which prompted JPMorgan Chase & Co. to increase its price target on shares from $51.00 to $53.00 while rating them as “overweight” in an earlier research report dated March 2nd.
Aspiring share-buyers may take comfort in knowing that multiple analysts have provided positive recommendations for this firm overall with six recommending Golden Entertainment as a buy compared to just one maintaining a hold rating based on reviews from Bloomberg.com.
With this information available, investors may want to keep an eye on Sei Investment’s latest moves as they expand their share holdings amid steady demand from both locals and tourists for Golden Entertainment’s casino properties and distributed gaming venues alike around America’s high streets and back roads throughout any future fluctuations among global financial markets .
[bs_slider_forecast ticker=”GDEN”]
Investor Interest Propelled by Recent Stock Activity of Golden Entertainment, Inc.
The recent stock activity of Golden Entertainment, Inc. has piqued the interest of numerous hedge funds and institutional investors. William Blair Investment Management LLC and First Trust Advisors LP purchased new positions in the company during Q4 of 2022, totaling $15,461,000 and $1,128,000 respectively. Citigroup Inc. raised its position in the company by 20.8%, acquiring an additional 2,834 shares during the same period. Beacon Investment Advisors LLC also obtained a new position worth approximately $824,000 in Q4.
UBS Group AG made the most significant change in investment by raising its position in Golden Entertainment by 143.9% in Q4 alone due to the company’s profitable Distributed Gaming segment that focuses on non-casino locations such as grocery and liquor stores. It now owns 8,311 shares of the company’s stock worth $311,000 after acquiring an additional 4,904 shares during that quarter.
However, COO Stephen Arcana sold 11,328 shares of Golden Entertainment stocks on April 5th at an average price of $42.01 per share equivalent to a total amount of $475,889.28. This was disclosed in a filing with the Securities & Exchange Commission.
Golden Entertainment currently operates under two distinct segments: Distributed Gaming and Casinos. The former is responsible for installing slot machines and amusement devices on non-casino locations while also operating branded taverns targeting local patrons.
Despite a fifty-two week low of $32.53 and a fifty-two week high of $48.86, GDEN opened at $45.83 on June 9th with market evaluation at $1.32 billion and beta rate standing at 2.35.
Investors met mixed earnings results from Golden Entertainment as it missed analysts’ consensus estimate of earning per share for Q4 but exceeded their revenue forecasts for that period by posting earnings of $278.05 million.
Many sell-side analysts predict that Golden Entertainment, Inc will post 1.76 earnings per share for the current fiscal year. As of this month, a vast majority of the company’s stocks are under the ownership of institutional investors who occupy 68.63% of its shares.