Quantbot Technologies LP Acquires New Position in Monarch Casino & Resort, Inc. $MCRI

Quantbot Technologies LP purchased a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,214 shares of the company’s stock, valued at approximately $1,607,000. Quantbot Technologies LP owned 0.07% of Monarch Casino & Resort at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MCRI. Osaic Holdings Inc. raised its holdings in shares of 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 buying an additional 315 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Monarch Casino & Resort in the 4th quarter valued at about $40,000. Allworth Financial LP acquired a new stake in Monarch Casino & Resort during the second quarter valued at approximately $41,000. Global Retirement Partners LLC bought a new stake in shares of Monarch Casino & Resort during the 2nd quarter worth $57,000. Finally, Parallel Advisors LLC boosted its position in shares of Monarch Casino & Resort by 191.3% in the 1st quarter. Parallel Advisors LLC now owns 1,136 shares of the company’s stock valued at $109,000 after purchasing an additional 746 shares during the period. 62.37% of the stock is currently owned by institutional investors.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 5,000 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were 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 directly owned 616,556 shares in the company, valued at $74,504,627.04. This represents a 0.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 26.34% of the company’s stock.

Monarch Casino & Resort Stock Down 1.4%

MCRI opened at $124.28 on Tuesday. The stock’s 50 day moving average price is $125.43 and its two-hundred day moving average price is $112.96. The firm has a market capitalization of $2.23 billion, a P/E ratio of 19.92 and a beta of 1.31. Monarch Casino & Resort, Inc. has a 12-month low of $88.13 and a 12-month high of $135.93.

Monarch Casino & Resort (NASDAQ:MCRI) last issued 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 analyst estimates of $142.85 million. Monarch Casino & Resort’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, analysts anticipate that Monarch Casino & Resort, Inc. will post 6.98 earnings per share for the current year.

Monarch Casino & Resort Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have weighed in on MCRI. Zacks Research cut shares of Monarch Casino & Resort from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Monarch Casino & Resort in a report on Wednesday, May 27th. UBS Group set a $124.00 target price on shares of Monarch Casino & Resort in a research report on Thursday, July 2nd. Wells Fargo & Company cut their price objective on Monarch Casino & Resort from $116.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 21st. Finally, Truist Financial lifted their price target on shares of Monarch Casino & Resort from $125.00 to $144.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $124.40.

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.