Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Declares $0.30 Quarterly Dividend

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) announced a quarterly dividend on Wednesday, February 4th. Investors of record on Monday, March 2nd will be paid a dividend of 0.30 per share on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, March 2nd.

Monarch Casino & Resort has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Monarch Casino & Resort to earn $5.29 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 22.7%.

Monarch Casino & Resort Trading Up 0.4%

NASDAQ MCRI traded up $0.34 during trading on Thursday, hitting $94.16. The company had a trading volume of 33,846 shares, compared to its average volume of 96,552. The company’s fifty day moving average is $94.87 and its 200-day moving average is $97.87. Monarch Casino & Resort has a one year low of $69.99 and a one year high of $113.88. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 17.07 and a beta of 1.34.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.12). The company had revenue of $140.00 million during the quarter, compared to the consensus estimate of $139.39 million. Monarch Casino & Resort had a return on equity of 19.33% and a net margin of 19.26%.Monarch Casino & Resort’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. As a group, equities analysts anticipate that Monarch Casino & Resort will post 5.13 EPS for the current year.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $100.63, for a total value of $100,630.00. Following the completion of the sale, the chief executive officer owned 553,110 shares of the company’s stock, valued at approximately $55,659,459.30. The trade was a 0.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 25.52% of the stock is currently owned by company insiders.

Institutional Trading of Monarch Casino & Resort

A number of hedge funds have recently bought and sold shares of the company. Strs Ohio boosted its position in Monarch Casino & Resort by 2.7% in the fourth quarter. Strs Ohio now owns 7,500 shares of the company’s stock worth $718,000 after purchasing an additional 200 shares during the last quarter. Horizon Investments LLC boosted its holdings in shares of Monarch Casino & Resort by 14.9% in the fourth quarter. Horizon Investments LLC now owns 9,580 shares of the company’s stock worth $917,000 after buying an additional 1,242 shares during the last quarter. UBS Group AG grew its position in Monarch Casino & Resort by 26.9% during the fourth quarter. UBS Group AG now owns 46,451 shares of the company’s stock valued at $4,445,000 after buying an additional 9,855 shares during the period. Vanguard Group Inc. increased its holdings in Monarch Casino & Resort by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 1,030,396 shares of the company’s stock valued at $98,609,000 after buying an additional 5,667 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in Monarch Casino & Resort by 23.3% in the fourth quarter. Teacher Retirement System of Texas now owns 80,020 shares of the company’s stock worth $7,658,000 after acquiring an additional 15,110 shares during the period. Hedge funds and other institutional investors own 62.37% of the company’s stock.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.