Monarch Casino & Resort, Inc. Declares Quarterly Dividend of $0.30 (NASDAQ:MCRI)

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) announced a quarterly dividend on Wednesday, February 4th. Stockholders of record on Monday, March 2nd will be given a dividend of 0.30 per share on Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, March 2nd.

Monarch Casino & Resort has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Monarch Casino & Resort to earn $5.29 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 22.7%.

Monarch Casino & Resort Stock Down 0.2%

NASDAQ:MCRI opened at $93.64 on Thursday. Monarch Casino & Resort has a 52-week low of $69.99 and a 52-week high of $113.88. The stock’s 50 day moving average price is $94.87 and its 200 day moving average price is $97.87. The company has a market capitalization of $1.71 billion, a PE ratio of 16.90 and a beta of 1.34.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.12). Monarch Casino & Resort had a return on equity of 19.33% and a net margin of 19.26%.The business had revenue of $140.00 million for the quarter, compared to analysts’ expectations of $139.39 million. During the same period in the previous year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $100.63, for a total value of $100,630.00. Following the transaction, the chief executive officer directly owned 553,110 shares in the company, valued at approximately $55,659,459.30. This represents a 0.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 25.52% of the company’s stock.

Hedge Funds Weigh In On Monarch Casino & Resort

Institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio raised its holdings in Monarch Casino & Resort by 2.7% in the 4th quarter. Strs Ohio now owns 7,500 shares of the company’s stock valued at $718,000 after acquiring an additional 200 shares during the last quarter. Horizon Investments LLC grew its position in shares of Monarch Casino & Resort by 14.9% in the fourth quarter. Horizon Investments LLC now owns 9,580 shares of the company’s stock valued at $917,000 after purchasing an additional 1,242 shares during the period. UBS Group AG increased its stake in Monarch Casino & Resort by 26.9% in the fourth quarter. UBS Group AG now owns 46,451 shares of the company’s stock valued at $4,445,000 after purchasing an additional 9,855 shares during the last quarter. Vanguard Group Inc. lifted 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 buying an additional 5,667 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Monarch Casino & Resort by 23.3% in the 4th quarter. Teacher Retirement System of Texas now owns 80,020 shares of the company’s stock worth $7,658,000 after buying an additional 15,110 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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.