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

Meeder Asset Management Inc. decreased its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 83.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 882 shares of the company’s stock after selling 4,554 shares during the period. Meeder Asset Management Inc.’s holdings in Monarch Casino & Resort were worth $84,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MCRI. Osaic Holdings Inc. boosted its position in Monarch Casino & Resort by 210.0% during the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock valued at $40,000 after purchasing an additional 315 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Monarch Casino & Resort during the 4th quarter worth approximately $40,000. GAMMA Investing LLC raised its stake in shares of Monarch Casino & Resort by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock worth $94,000 after purchasing an additional 106 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Monarch Casino & Resort by 191.3% during the 1st quarter. Parallel Advisors LLC now owns 1,136 shares of the company’s stock worth $109,000 after purchasing an additional 746 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Monarch Casino & Resort by 69.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company’s stock valued at $110,000 after buying an additional 524 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th. Truist Financial upped their price target on shares of Monarch Casino & Resort from $125.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Monarch Casino & Resort in a research note on Wednesday, May 27th. Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $102.00 to $128.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, UBS Group set a $124.00 price objective on shares of Monarch Casino & Resort in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Monarch Casino & Resort presently has a consensus rating of “Hold” and an average price target of $124.40.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 5,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 616,556 shares in the company, valued at $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 SEC, which is available at this hyperlink. 26.34% of the stock is owned by company insiders.

Monarch Casino & Resort Price Performance

Shares of MCRI opened at $118.27 on Thursday. The firm has a market capitalization of $2.10 billion, a PE ratio of 18.95 and a beta of 1.29. The company’s 50-day moving average is $124.48 and its 200-day moving average is $107.91. 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 announced its earnings results on Monday, July 20th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $142.60 million during the quarter, compared to the consensus estimate of $142.85 million. Monarch Casino & Resort had a net margin of 20.40% and a return on equity of 20.63%. The business’s revenue was up 4.2% compared to the same quarter last year. Analysts predict that Monarch Casino & Resort, Inc. will post 7.07 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

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