Capstone Investment Advisors LLC Buys Shares of 4,804 Monarch Casino & Resort, Inc. $MCRI

Capstone Investment Advisors LLC purchased a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,804 shares of the company’s stock, valued at approximately $632,000.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Monarch Casino & Resort in the second quarter valued at $270,679,000. Vanguard Group Inc. boosted 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 valued at $98,609,000 after acquiring an additional 5,667 shares during the last quarter. Geode Capital Management LLC grew its holdings in Monarch Casino & Resort by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 396,844 shares of the company’s stock worth $37,983,000 after acquiring an additional 10,890 shares during the period. Invesco Ltd. grew its holdings in Monarch Casino & Resort by 38.2% during the 4th quarter. Invesco Ltd. now owns 194,371 shares of the company’s stock worth $18,601,000 after acquiring an additional 53,745 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in shares of Monarch Casino & Resort by 77.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company’s stock worth $19,951,000 after acquiring an additional 82,035 shares in the last quarter. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Trading Down 0.8%

MCRI opened at $122.57 on Friday. The company has a fifty day moving average price of $124.97 and a two-hundred day moving average price of $113.62. Monarch Casino & Resort, Inc. has a 1-year low of $88.13 and a 1-year high of $135.93. The company has a market cap of $2.20 billion, a P/E ratio of 19.64 and a beta of 1.31.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Monday, July 20th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $142.60 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts forecast that Monarch Casino & Resort, Inc. will post 6.98 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

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

Analyst Ratings Changes

MCRI has been the topic of a number of recent analyst reports. UBS Group set a $124.00 price objective on Monarch Casino & Resort in a research note on Thursday, July 2nd. Jefferies Financial Group reiterated a “hold” rating on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Wall Street Zen lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Truist Financial boosted their price target on Monarch Casino & Resort from $125.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Stifel Nicolaus increased their price target on Monarch Casino & Resort from $102.00 to $128.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Monarch Casino & Resort currently has an average rating of “Hold” and a consensus target price 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.