VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $2.80 Million Investment in Monarch Casino & Resort, Inc. $MCRI

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 21,275 shares of the company’s stock, valued at approximately $2,800,000.

A number of other large investors have also made changes to their positions in MCRI. Hillsdale Investment Management Inc. acquired a new position in Monarch Casino & Resort in the 4th quarter worth approximately $7,244,000. Sei Investments Co. raised its stake in Monarch Casino & Resort by 69.9% during the 1st quarter. Sei Investments Co. now owns 33,319 shares of the company’s stock valued at $3,185,000 after purchasing an additional 13,712 shares during the period. BlackRock Inc. purchased a new stake in shares of Monarch Casino & Resort in the second quarter valued at $270,679,000. Ieq Capital LLC purchased a new stake in shares of Monarch Casino & Resort in the second quarter valued at $1,182,000. Finally, Pacer Advisors Inc. boosted its position in shares of Monarch Casino & Resort by 2,489.3% in the fourth quarter. Pacer Advisors Inc. now owns 50,311 shares of the company’s stock worth $4,815,000 after buying an additional 48,368 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCRI. Wall Street Zen downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Monarch Casino & Resort in a research note on Monday, August 24th. Truist Financial raised their price objective on Monarch Casino & Resort from $125.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Wells Fargo & Company lowered their target price 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, UBS Group set a $124.00 target price on Monarch Casino & Resort in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $124.40.

Monarch Casino & Resort Stock Down 1.1%

Monarch Casino & Resort stock opened at $119.61 on Friday. Monarch Casino & Resort, Inc. has a 12 month low of $88.13 and a 12 month high of $135.93. The stock has a market cap of $2.14 billion, a P/E ratio of 19.17 and a beta of 1.31. The company’s fifty day simple moving average is $123.01 and its 200-day simple moving average is $115.29.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data 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%.The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts expect that Monarch Casino & Resort, Inc. will post 6.98 earnings per share for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid 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 dividend 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.