8,978 Shares in Monarch Casino & Resort, Inc. $MCRI Bought by Ieq Capital LLC

Ieq Capital LLC acquired a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,978 shares of the company’s stock, valued at approximately $1,182,000. Ieq Capital LLC owned approximately 0.05% of Monarch Casino & Resort as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Osaic Holdings Inc. raised its stake in Monarch Casino & Resort by 210.0% during the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after acquiring an additional 315 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Monarch Casino & Resort in the fourth quarter worth about $40,000. Allworth Financial LP acquired a new stake in shares of Monarch Casino & Resort in the 2nd quarter valued at approximately $41,000. Global Retirement Partners LLC acquired a new stake in shares of Monarch Casino & Resort in the 2nd quarter valued at approximately $57,000. Finally, Parallel Advisors LLC grew its holdings 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 valued at $109,000 after purchasing an additional 746 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MCRI shares. 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. Truist Financial boosted their target price on shares of Monarch Casino & Resort from $125.00 to $144.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Jefferies Financial Group reiterated a “hold” rating on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Monarch Casino & Resort in a research note on Monday. Finally, UBS Group set a $124.00 price objective on Monarch Casino & Resort in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $124.40.

Monarch Casino & Resort Stock Up 0.4%

Shares of Monarch Casino & Resort stock opened at $124.22 on Thursday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 19.91 and a beta of 1.31. Monarch Casino & Resort, Inc. has a twelve month low of $88.13 and a twelve month high of $135.93. The company’s fifty day moving average is $125.27 and its 200 day moving average is $113.38.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Monday, July 20th. The company reported $1.78 earnings per share (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 analyst estimates of $142.85 million. Monarch Casino & Resort had a return on equity of 20.63% and a net margin of 20.40%.Monarch Casino & Resort’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts anticipate that Monarch Casino & Resort, Inc. will post 6.98 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. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 1st. Monarch Casino & Resort’s dividend payout ratio (DPR) is 19.23%.

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.