On February 25, S&P DOW Jones Indices reported certain changes in its MidCap 400, S&P 500, and SmallCap 600. These changes included the promotion of Golden Entertainment Inc. (GDEN) to S&P SmallCaP 600. GDEN will replace Range Resources in the S&P SmallCap 600 in the GICS sector Consumer Discretionary. The change will be effective before the trading begins on Wednesday, March 2, 2022. Consequent to the announcement, GDEN stock rose in the after-hours session on Friday.
At an above-average volume of 360.71K shares, the stock traded between $49.30 and $52.00 during the regular trading on Friday. The stock closed the session in the green with a mild gain of 1.28% or $0.65, at $51.48. Following the announcement, GDEN added a further 9.01% in the after-hours session. Thus, the stock was trading at a value of $56.12 per share in the after-hours on Friday.
More About GDEN
Founded in 1998, Golden Entertainment Inc. develops, finances, manages, and owns casino properties. Its segments include Distributed Gaming segment and the Casinos segment. Headquartered in Las Vegas, NV, the company has a market capitalization of $1.5 billion. Currently, the company has 29.06 million shares outstanding in the market.
So far into 2022, the company’s stock has not undergone any major change. With a year-to-date gain of a mere 1.88%, the stock has lost 1.28% in the past five days. Comparatively, 2021 proved very fruitful for the stock as it added a huge value of 117.86% last year.
GDEN’s 2021 Financials
On February 17, the company declared its financial results for Q4 and fiscal 2021, which ended on December 31, 2021.
Q4 2021
In Q4 2021, GDEN has revenues of $282.0 million with an increase of 37% YOY against $205.6 million in the year-ago period.
Moreover, the company had a net income of $19.1 million in Q4 2021 against a net loss of $18.5 million in Q4 2020. Thus, the company had diluted EPS of $0.59 in Q4 2021 and $(0.66) in Q4 2020.
Fiscal 2021
For fiscal 2021, the company reported revenues of $1.1 billion against $694.2 million in 2020. This marks an increase of 58% YOY.
Furthermore, the company had adjusted EBITDA of $291.7 million in fiscal 2021, against $110.3 million in the previous year. This marks a huge increase of 165% YOY.
Conclusion
On Friday, GDEN’s promotion to the S&P SmallCap 600 was announced which seems to have made the investors very excited. The news resulted in the stock’s upsurge in the after-hours session on Friday.
