Emmett Investment Management LP Grows Stock Holdings in Monarch Casino & Resort, Inc. $MCRI

Emmett Investment Management LP lifted its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,960 shares of the company’s stock after purchasing an additional 4,788 shares during the quarter. Monarch Casino & Resort comprises approximately 3.9% of Emmett Investment Management LP’s holdings, making the stock its 14th largest position. Emmett Investment Management LP’s holdings in Monarch Casino & Resort were worth $5,107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC purchased a new stake in shares of Monarch Casino & Resort in the first quarter worth $209,000. Quantinno Capital Management LP boosted its stake in Monarch Casino & Resort by 14.5% in the 1st quarter. Quantinno Capital Management LP now owns 6,335 shares of the company’s stock worth $606,000 after purchasing an additional 802 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Monarch Casino & Resort by 6.8% in the 1st quarter. Lazard Asset Management LLC now owns 61,592 shares of the company’s stock worth $5,888,000 after purchasing an additional 3,936 shares in the last quarter. Sei Investments Co. grew its position 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 last quarter. Finally, PNC Financial Services Group Inc. grew its position in Monarch Casino & Resort by 11.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,700 shares of the company’s stock valued at $258,000 after purchasing an additional 271 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MCRI shares. Stifel Nicolaus raised their price objective on shares of Monarch Casino & Resort from $102.00 to $128.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Zacks Research cut shares of Monarch Casino & Resort from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. UBS Group set a $124.00 price target on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Wall Street Zen upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Monarch Casino & Resort in a research 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 given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $124.40.

Insider Activity at Monarch Casino & Resort

In other news, CEO John Farahi sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.84, for a total value of $604,200.00. Following the transaction, the chief executive officer owned 616,556 shares of the company’s stock, valued at $74,504,627.04. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.34% of the stock is owned by company insiders.

Monarch Casino & Resort Trading Up 1.8%

Shares of NASDAQ MCRI opened at $121.69 on Tuesday. Monarch Casino & Resort, Inc. has a 12-month low of $88.13 and a 12-month high of $135.93. The firm has a 50 day moving average of $124.58 and a 200 day moving average of $108.43. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 19.50 and a beta of 1.29.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Monday, July 20th. The company reported $1.78 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 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. Sell-side analysts predict that Monarch Casino & Resort, Inc. will post 6.98 EPS for the current year.

Monarch Casino & Resort Announces Dividend

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