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

Vanguard Group Inc. lessened its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 1.5% during the third quarter, according to the company in its most recent 13F 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 quarter. Vanguard Group Inc. owned about 5.61% of Monarch Casino & Resort worth $108,457,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. American Century Companies Inc. raised its position 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 buying an additional 24,472 shares during the period. Geode Capital Management LLC lifted its stake in shares of Monarch Casino & Resort by 20.0% in the 2nd quarter. Geode Capital Management LLC now owns 391,868 shares of the company’s stock valued at $33,877,000 after purchasing an additional 65,272 shares in the last quarter. Tributary Capital Management LLC grew its holdings in shares of Monarch Casino & Resort by 57.8% during the 3rd quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock worth $41,204,000 after purchasing an additional 142,621 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Monarch Casino & Resort by 10.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 108,791 shares of the company’s stock worth $9,404,000 after purchasing an additional 10,553 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Monarch Casino & Resort by 10.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 106,463 shares of the company’s stock worth $9,203,000 after purchasing an additional 10,363 shares in the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCRI has been the subject of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monarch Casino & Resort in a research note on Monday, December 29th. Wells Fargo & Company increased their price target on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $112.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Finally, Zacks Research upgraded Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Monarch Casino & Resort currently has an average rating of “Moderate Buy” and a consensus target price of $99.80.

Insider Buying and Selling at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $100.63, for a total transaction of $100,630.00. Following the sale, the chief executive officer directly owned 553,110 shares of the company’s stock, valued at approximately $55,659,459.30. This represents a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 25.52% of the company’s stock.

Monarch Casino & Resort Price Performance

NASDAQ MCRI opened at $98.58 on Thursday. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 18.15 and a beta of 1.29. Monarch Casino & Resort, Inc. has a 12 month low of $69.99 and a 12 month high of $113.88. The company’s fifty day moving average price is $94.20 and its two-hundred day moving average price is $97.04.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.12). The company had revenue of $140.00 million for the quarter, compared to the consensus estimate of $139.39 million. Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. As a group, analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, March 2nd. Monarch Casino & Resort’s payout ratio is 22.10%.

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.