Meeder Asset Management Inc. Has $84,000 Stock Position in Monarch Casino & Resort, Inc. $MCRI

Meeder Asset Management Inc. lessened its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 83.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 882 shares of the company’s stock after selling 4,554 shares during the quarter. Meeder Asset Management Inc.’s holdings in Monarch Casino & Resort were worth $84,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MCRI. Vanguard Group Inc. increased its position 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 worth $98,609,000 after acquiring an additional 5,667 shares during the period. Geode Capital Management LLC boosted its holdings in Monarch Casino & Resort by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 396,844 shares of the company’s stock valued at $37,983,000 after purchasing an additional 10,890 shares during the period. Invesco Ltd. grew its position in shares of Monarch Casino & Resort by 38.2% during the 4th quarter. Invesco Ltd. now owns 194,371 shares of the company’s stock worth $18,601,000 after purchasing an additional 53,745 shares in the last quarter. 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 worth $19,951,000 after purchasing an additional 82,035 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Monarch Casino & Resort by 64.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company’s stock worth $18,943,000 after purchasing an additional 70,185 shares during the period. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. UBS Group set a $124.00 price target on shares of Monarch Casino & Resort in a research report on Thursday, July 2nd. Wells Fargo & Company reduced 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. Jefferies Financial Group restated a “hold” rating on shares of Monarch Casino & Resort in a research note on Thursday, July 2nd. Stifel Nicolaus lifted their price objective on Monarch Casino & Resort from $102.00 to $128.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Zacks Research downgraded Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $124.40.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock opened at $118.27 on Thursday. The stock’s fifty day moving average price is $124.48 and its two-hundred day moving average price is $107.91. The company has a market cap of $2.10 billion, a PE ratio of 18.95 and a beta of 1.29. Monarch Casino & Resort, Inc. has a fifty-two week low of $88.13 and a fifty-two week high of $135.93.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Monday, July 20th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. Monarch Casino & Resort had a return on equity of 20.63% and a net margin of 20.40%.The company had revenue of $142.60 million during the quarter, compared to analysts’ expectations of $142.85 million. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts predict that Monarch Casino & Resort, Inc. will post 7.07 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 1st. Monarch Casino & Resort’s payout ratio is currently 19.23%.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the transaction, the chief executive officer owned 616,556 shares of the company’s stock, valued at approximately $74,504,627.04. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 26.34% of the company’s stock.

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.