Is Golden Entertainment Inc (GDEN) Going To Burn These Hedge Funds?

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Now, key hedge funds have been driving this bullishness. Cove Street Capital created the most outsized position in Golden Entertainment Inc (NASDAQ:GDEN) which had $5 million invested in the company at the end of the quarter. Peter Algert and Kevin Coldiron’s Algert Coldiron Investors also made a $1.1 million investment in the stock during the quarter. The only other fund with a new position in the stock is Alec Litowitz and Ross Laser’s Magnetar Capital.

Let’s also examine hedge fund activity in other stocks similar to Golden Entertainment Inc (NASDAQ:GDEN). These stocks are Seneca Foods Corp (NASDAQ:SENEA), Territorial Bancorp Inc (NASDAQ:TBNK), Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS), and San Juan Basin Royalty Trust (NYSE:SJT). All of these stocks’ market caps match GDEN’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SENEA 7 13548 0
TBNK 5 18671 0
GSS 9 13576 5
SJT 6 9223 -1

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $14 million. That figure was $30 million in GDEN’s case. Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS) is the most popular stock in this table. On the other hand Territorial Bancorp Inc (NASDAQ:TBNK) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Golden Entertainment Inc (NASDAQ:GDEN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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Disclosure: None




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