Monarch Casino & Resort, Inc. $MCRI Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,024,729 shares of the company’s stock after selling 16,102 shares during the period. Vanguard Group Inc. owned 0.06% of Monarch Casino & Resort worth $108,457,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of Monarch Casino & Resort by 5.5% in the 2nd quarter. American Century Companies Inc. now owns 471,072 shares of the company’s stock worth $40,719,000 after purchasing an additional 24,472 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Monarch Casino & Resort by 211.5% in the third quarter. Assenagon Asset Management S.A. now owns 68,092 shares of the company’s stock worth $7,207,000 after buying an additional 46,235 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Monarch Casino & Resort by 10.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 108,791 shares of the company’s stock valued at $9,404,000 after buying an additional 10,553 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in shares of Monarch Casino & Resort by 57.8% during the third quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock valued at $41,204,000 after acquiring an additional 142,621 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Monarch Casino & Resort by 32.3% during the third quarter. Public Sector Pension Investment Board now owns 57,285 shares of the company’s stock valued at $6,063,000 after acquiring an additional 13,976 shares during the period. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ:MCRI opened at $98.58 on Thursday. The firm has a 50 day simple moving average of $94.20 and a 200 day simple moving average of $97.04. Monarch Casino & Resort, Inc. has a 52 week low of $69.99 and a 52 week high of $113.88. The company has a market cap of $1.76 billion, a PE ratio of 18.15 and a beta of 1.29.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, February 4th. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.12). Monarch Casino & Resort had a net margin of 18.60% and a return on equity of 18.68%. The business had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $139.39 million. During the same quarter in the previous year, the company earned $0.22 EPS. Monarch Casino & Resort’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, March 2nd. Monarch Casino & Resort’s dividend payout ratio (DPR) is currently 22.10%.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $100.63, for a total value of $100,630.00. Following the transaction, the chief executive officer owned 553,110 shares in the company, valued at approximately $55,659,459.30. This represents a 0.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 25.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Jefferies Financial Group restated a “hold” rating and issued a $112.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. Wells Fargo & Company lifted their price objective on shares of Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $99.80.

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.