Renaissance Technologies LLC Sells 22,700 Shares of Monarch Casino & Resort, Inc. $MCRI

Renaissance Technologies LLC lowered its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 14.4% in the first quarter, HoldingsChannel.com reports. The fund owned 134,600 shares of the company’s stock after selling 22,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Monarch Casino & Resort were worth $12,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of MCRI. AQR Capital Management LLC increased its stake in shares of Monarch Casino & Resort by 36.0% during the 1st quarter. AQR Capital Management LLC now owns 57,731 shares of the company’s stock worth $4,489,000 after purchasing an additional 15,295 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Monarch Casino & Resort by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,618 shares of the company’s stock valued at $592,000 after purchasing an additional 316 shares during the period. Creative Planning acquired a new stake in Monarch Casino & Resort in the 2nd quarter valued at about $283,000. Quantbot Technologies LP acquired a new stake in Monarch Casino & Resort in the 2nd quarter valued at about $431,000. Finally, First Trust Advisors LP grew its holdings in Monarch Casino & Resort by 9.5% during the second quarter. First Trust Advisors LP now owns 41,109 shares of the company’s stock worth $3,553,000 after purchasing an additional 3,574 shares during the period. Institutional investors own 62.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MCRI. Wells Fargo & Company lowered their price target on Monarch Casino & Resort from $116.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 21st. UBS Group set a $124.00 price objective on Monarch Casino & Resort in a research report on Thursday, July 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Monarch Casino & Resort in a research note on Wednesday, May 27th. Wall Street Zen downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Truist Financial boosted their target price on Monarch Casino & Resort from $125.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $124.40.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 5,000 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.84, for a total value of $604,200.00. Following the completion of the sale, the chief executive officer directly owned 616,556 shares in the company, valued at $74,504,627.04. The trade was a 0.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 26.34% of the stock is owned by company insiders.

Monarch Casino & Resort Stock Performance

Shares of MCRI opened at $122.75 on Friday. Monarch Casino & Resort, Inc. has a 52 week low of $88.13 and a 52 week high of $135.93. The firm has a market cap of $2.20 billion, a P/E ratio of 19.67 and a beta of 1.29. The firm’s 50-day simple moving average is $125.05 and its 200 day simple moving average is $109.15.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Monday, July 20th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. Monarch Casino & Resort had a net margin of 20.40% and a return on equity of 20.63%. The firm had revenue of $142.60 million during the quarter, compared to the consensus estimate of $142.85 million. Monarch Casino & Resort’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Monarch Casino & Resort, Inc. will post 6.98 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 1st. Monarch Casino & Resort’s dividend payout ratio (DPR) is presently 19.23%.

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.