Vanguard Group Inc. Raises Stock Holdings in Monarch Casino & Resort, Inc. $MCRI

Vanguard Group Inc. increased its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,030,396 shares of the company’s stock after acquiring an additional 5,667 shares during the period. Vanguard Group Inc. owned approximately 5.65% of Monarch Casino & Resort worth $98,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its stake in Monarch Casino & Resort by 210.0% in the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after acquiring an additional 315 shares during the last quarter. TD Private Client Wealth LLC raised its stake in Monarch Casino & Resort by 57.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 594 shares of the company’s stock worth $63,000 after acquiring an additional 216 shares during the last quarter. GAMMA Investing LLC raised its stake in Monarch Casino & Resort by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock worth $94,000 after acquiring an additional 106 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in 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 worth $110,000 after acquiring an additional 524 shares during the last quarter. Finally, Evergreen Capital Management LLC purchased a new position in Monarch Casino & Resort in the 4th quarter worth $209,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $99.00, for a total transaction of $198,000.00. Following the sale, the chief executive officer directly owned 536,304 shares of the company’s stock, valued at approximately $53,094,096. This trade represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 26.34% of the company’s stock.

Monarch Casino & Resort Stock Performance

Shares of MCRI opened at $116.14 on Thursday. The business’s 50-day moving average is $103.30 and its two-hundred day moving average is $97.76. The company has a market capitalization of $2.06 billion, a P/E ratio of 19.68 and a beta of 1.32. Monarch Casino & Resort, Inc. has a fifty-two week low of $80.39 and a fifty-two week high of $120.91.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.37. The company had revenue of $136.55 million for the quarter, compared to the consensus estimate of $128.49 million. Monarch Casino & Resort had a return on equity of 19.98% and a net margin of 19.62%.Monarch Casino & Resort’s quarterly revenue was up 8.9% compared to the same quarter last year. Analysts forecast that Monarch Casino & Resort, Inc. will post 7.07 EPS for the current year.

Monarch Casino & Resort Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Monarch Casino & Resort’s dividend payout ratio (DPR) is currently 20.34%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their target price on Monarch Casino & Resort from $97.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Truist Financial raised their target price on Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Zacks Research upgraded Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.50.

About Monarch Casino & Resort

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.