Monarch Casino & Resort, Inc. $MCRI Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC trimmed its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 6.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 938,700 shares of the company’s stock after selling 67,985 shares during the period. DAVENPORT & Co LLC owned 0.05% of Monarch Casino & Resort worth $90,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC increased its holdings in shares of Monarch Casino & Resort by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock valued at $94,000 after acquiring an additional 106 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in Monarch Casino & Resort by 2.2% during the third quarter. Illinois Municipal Retirement Fund now owns 6,703 shares of the company’s stock worth $709,000 after purchasing an additional 142 shares during the last quarter. Mariner LLC lifted its stake in Monarch Casino & Resort by 6.5% during the third quarter. Mariner LLC now owns 2,493 shares of the company’s stock worth $264,000 after purchasing an additional 152 shares during the last quarter. Vident Advisory LLC boosted its holdings in Monarch Casino & Resort by 3.5% in the second quarter. Vident Advisory LLC now owns 5,566 shares of the company’s stock valued at $481,000 after purchasing an additional 186 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Monarch Casino & Resort by 46.4% in the third quarter. Blue Trust Inc. now owns 612 shares of the company’s stock valued at $65,000 after purchasing an additional 194 shares in the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Stock Up 0.6%

NASDAQ:MCRI opened at $98.88 on Wednesday. The stock’s 50 day moving average price is $95.06 and its 200 day moving average price is $96.50. The company has a market capitalization of $1.77 billion, a PE ratio of 18.21 and a beta of 1.29. Monarch Casino & Resort, Inc. has a 52-week low of $69.99 and a 52-week high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.12). The firm had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $139.39 million. Monarch Casino & Resort had a net margin of 18.60% and a return on equity of 18.68%. Monarch Casino & Resort’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. As a group, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.30 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.20 annualized dividend and a yield of 1.2%. Monarch Casino & Resort’s dividend payout ratio is 22.10%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MCRI. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Zacks Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Wells Fargo & Company increased their target price on shares of Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $112.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.80.

Monarch Casino & Resort Profile

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.