Monarch Casino & Resort, Inc. $MCRI Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,030,396 shares of the company’s stock after buying an additional 5,667 shares during the period. Vanguard Group Inc. owned about 0.06% of Monarch Casino & Resort worth $98,609,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of MCRI. Qube Research & Technologies Ltd grew its position in shares of Monarch Casino & Resort by 77.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company’s stock valued at $19,951,000 after acquiring an additional 82,035 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Monarch Casino & Resort by 64.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company’s stock valued at $18,943,000 after acquiring an additional 70,185 shares during the period. Clark Capital Management Group Inc. acquired a new stake in shares of Monarch Casino & Resort during the 3rd quarter valued at about $6,192,000. Lazard Asset Management LLC grew its position in shares of Monarch Casino & Resort by 1,483.4% during the 2nd quarter. Lazard Asset Management LLC now owns 42,561 shares of the company’s stock valued at $3,678,000 after acquiring an additional 39,873 shares during the period. Finally, Millennium Management LLC grew its position in shares of Monarch Casino & Resort by 364.5% during the 3rd quarter. Millennium Management LLC now owns 48,599 shares of the company’s stock valued at $5,144,000 after acquiring an additional 38,136 shares during the period. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Monarch Casino & Resort Trading Up 0.4%

Shares of Monarch Casino & Resort stock opened at $116.14 on Thursday. The firm has a market capitalization of $2.06 billion, a PE ratio of 19.68 and a beta of 1.32. Monarch Casino & Resort, Inc. has a twelve month low of $80.39 and a twelve month high of $120.91. The firm’s 50-day moving average price is $103.30 and its 200 day moving average price is $97.76.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.37. The firm had revenue of $136.55 million for the quarter, compared to analyst estimates of $128.49 million. Monarch Casino & Resort had a net margin of 19.62% and a return on equity of 19.98%. Monarch Casino & Resort’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts predict that Monarch Casino & Resort, Inc. will post 7.07 EPS for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. Monarch Casino & Resort’s dividend payout ratio (DPR) is currently 20.34%.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $99.00, for a total value of $198,000.00. Following the transaction, the chief executive officer directly owned 536,304 shares of the company’s stock, valued at $53,094,096. This trade represents a 0.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 26.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MCRI shares. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $97.00 to $102.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Zacks Research raised shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Truist Financial raised their price target on shares of Monarch Casino & Resort from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th. Finally, Wells Fargo & Company raised their price target on shares of Monarch Casino & Resort from $97.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.50.

Monarch Casino & Resort Company 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.