Quantbot Technologies LP Purchases New Holdings in Monarch Casino & Resort, Inc. $MCRI

Quantbot Technologies LP purchased a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,214 shares of the company’s stock, valued at approximately $1,607,000.

A number of other hedge funds also recently modified their holdings of MCRI. AQR Capital Management LLC increased its position in shares of Monarch Casino & Resort by 36.0% during the first quarter. AQR Capital Management LLC now owns 57,731 shares of the company’s stock valued at $4,489,000 after purchasing an additional 15,295 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Monarch Casino & Resort by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,618 shares of the company’s stock worth $592,000 after buying an additional 316 shares in the last quarter. Creative Planning acquired a new stake in Monarch Casino & Resort during the second quarter worth $283,000. First Trust Advisors LP increased its holdings in Monarch Casino & Resort by 9.5% in the 2nd quarter. First Trust Advisors LP now owns 41,109 shares of the company’s stock valued at $3,553,000 after buying an additional 3,574 shares during the period. Finally, Cerity Partners LLC increased its holdings in Monarch Casino & Resort by 49.7% in the 2nd quarter. Cerity Partners LLC now owns 9,890 shares of the company’s stock valued at $855,000 after buying an additional 3,285 shares during the period. Institutional investors own 62.37% of the company’s stock.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 5,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.84, for a total value of $604,200.00. Following the completion of the transaction, the chief executive officer owned 616,556 shares in the company, valued at approximately $74,504,627.04. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 26.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group set a $124.00 price objective on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Stifel Nicolaus upped their target price on shares of Monarch Casino & Resort from $102.00 to $128.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Jefferies Financial Group reissued a “hold” rating on shares of Monarch Casino & Resort in a research report on Thursday, July 2nd. Zacks Research cut shares of Monarch Casino & Resort from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monarch Casino & Resort in a report on Wednesday, May 27th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given 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.

Monarch Casino & Resort Stock Performance

MCRI opened at $124.28 on Tuesday. The firm’s 50-day simple moving average is $125.43 and its 200-day simple moving average is $112.96. Monarch Casino & Resort, Inc. has a twelve month low of $88.13 and a twelve month high of $135.93. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 19.92 and a beta of 1.31.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Monday, July 20th. The company reported $1.78 earnings per share (EPS) for the quarter, beating 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. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 6.98 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

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

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.