SG Americas Securities LLC Sells 4,884 Shares of Monarch Casino & Resort, Inc. $MCRI

SG Americas Securities LLC lowered its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 27.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,767 shares of the company’s stock after selling 4,884 shares during the quarter. SG Americas Securities LLC owned about 0.07% of Monarch Casino & Resort worth $1,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MCRI. American Century Companies Inc. lifted its position in shares of Monarch Casino & Resort by 4.3% in the third quarter. American Century Companies Inc. now owns 491,400 shares of the company’s stock worth $52,010,000 after buying an additional 20,328 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Monarch Casino & Resort during the 3rd quarter valued at approximately $1,348,000. Hillsdale Investment Management Inc. purchased a new position in Monarch Casino & Resort during the 4th quarter valued at approximately $7,244,000. UBS Group AG grew its holdings in Monarch Casino & Resort by 26.9% during the 4th quarter. UBS Group AG now owns 46,451 shares of the company’s stock valued at $4,445,000 after buying an additional 9,855 shares in the last quarter. Finally, AlphaQuest LLC increased its stake in Monarch Casino & Resort by 303.4% in the 4th quarter. AlphaQuest LLC now owns 21,701 shares of the company’s stock worth $2,077,000 after acquiring an additional 16,321 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

MCRI opened at $129.94 on Friday. The firm has a market cap of $2.31 billion, a P/E ratio of 22.02 and a beta of 1.29. Monarch Casino & Resort, Inc. has a 12 month low of $85.66 and a 12 month high of $135.93. The stock has a 50-day moving average of $122.72 and a 200 day moving average of $105.48.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.37. Monarch Casino & Resort had a return on equity of 19.98% and a net margin of 19.62%.The business had revenue of $136.55 million for the quarter, compared to the consensus estimate of $128.49 million. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, research analysts forecast that Monarch Casino & Resort, Inc. will post 7.07 earnings per share for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.9%. Monarch Casino & Resort’s payout ratio is currently 20.34%.

Insider Buying and Selling at Monarch Casino & Resort

In related news, CEO John Farahi sold 5,000 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.84, for a total transaction of $604,200.00. Following the sale, the chief executive officer owned 616,556 shares in the company, valued at approximately $74,504,627.04. This represents a 0.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 26.34% of the company’s stock.

Wall Street Analyst Weigh In

MCRI has been the topic of several recent research reports. UBS Group set a $124.00 price objective on Monarch Casino & Resort in a report on Thursday. Jefferies Financial Group reissued a “hold” rating on shares of Monarch Casino & Resort in a report on Thursday. Stifel Nicolaus boosted their price target on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Truist Financial boosted their price target on shares of Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Wells Fargo & Company upped their price target on shares of Monarch Casino & Resort from $97.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Monarch Casino & Resort currently has an average rating of “Hold” and an average price target of $112.40.

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.