Segall Bryant & Hamill LLC Makes New $1.35 Million Investment in Monarch Casino & Resort, Inc. $MCRI

Segall Bryant & Hamill LLC purchased a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,738 shares of the company’s stock, valued at approximately $1,348,000. Segall Bryant & Hamill LLC owned approximately 0.07% of Monarch Casino & Resort at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. grew its stake in Monarch Casino & Resort by 4.3% during the 3rd quarter. American Century Companies Inc. now owns 491,400 shares of the company’s stock worth $52,010,000 after buying an additional 20,328 shares during the last quarter. Geode Capital Management LLC raised its stake in Monarch Casino & Resort by 20.0% in the second quarter. Geode Capital Management LLC now owns 391,868 shares of the company’s stock valued at $33,877,000 after buying an additional 65,272 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in Monarch Casino & Resort by 57.8% in the third quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock worth $41,204,000 after acquiring an additional 142,621 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Monarch Casino & Resort by 10.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 108,791 shares of the company’s stock worth $9,404,000 after acquiring an additional 10,553 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Monarch Casino & Resort by 10.8% during the second quarter. Qube Research & Technologies Ltd now owns 106,463 shares of the company’s stock worth $9,203,000 after acquiring an additional 10,363 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Insider Activity

In other news, CEO John Farahi sold 1,000 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $100.63, for a total transaction of $100,630.00. Following the sale, the chief executive officer directly owned 553,110 shares of the company’s stock, valued at $55,659,459.30. This represents a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 25.52% of the stock is currently owned by insiders.

Monarch Casino & Resort Trading Down 0.1%

Shares of NASDAQ:MCRI opened at $98.54 on Friday. Monarch Casino & Resort, Inc. has a 12-month low of $69.99 and a 12-month high of $113.88. The business has a 50 day moving average of $94.22 and a two-hundred day moving average of $97.04. The company has a market capitalization of $1.76 billion, a PE ratio of 18.15 and a beta of 1.29.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, February 4th. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.12). Monarch Casino & Resort had a net margin of 18.60% and a return on equity of 18.68%. The firm had revenue of $140.00 million for the quarter, compared to analysts’ expectations of $139.39 million. During the same period last year, the firm earned $0.22 earnings per share. Monarch Casino & Resort’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.30 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.2%. Monarch Casino & Resort’s dividend payout ratio is 22.10%.

Analyst Ratings Changes

Several brokerages recently commented on MCRI. Wells Fargo & Company increased their price objective on shares of Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a research report on Monday, December 29th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $112.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, December 24th. Finally, Zacks Research raised shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Monarch Casino & Resort currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.80.

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.