Landscape Capital Management L.L.C. Invests $2.07 Million in Monarch Casino & Resort, Inc. $MCRI

Landscape Capital Management L.L.C. bought a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 15,717 shares of the company’s stock, valued at approximately $2,069,000.

Several other large investors have also recently added to or reduced their stakes in MCRI. BlackRock Inc. bought a new stake in shares of Monarch Casino & Resort during the second quarter worth $270,679,000. Vanguard Group Inc. grew its position in shares of Monarch Casino & Resort by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,030,396 shares of the company’s stock worth $98,609,000 after buying an additional 5,667 shares during the period. Geode Capital Management LLC increased its stake in Monarch Casino & Resort by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 396,844 shares of the company’s stock valued at $37,983,000 after purchasing an additional 10,890 shares in the last quarter. Invesco Ltd. raised its holdings in Monarch Casino & Resort by 38.2% in the fourth quarter. Invesco Ltd. now owns 194,371 shares of the company’s stock worth $18,601,000 after purchasing an additional 53,745 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in Monarch Casino & Resort by 77.1% in the third quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company’s stock worth $19,951,000 after purchasing an additional 82,035 shares during the period. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Stock Performance

Shares of MCRI opened at $126.09 on Friday. The firm has a market cap of $2.26 billion, a P/E ratio of 20.21 and a beta of 1.31. Monarch Casino & Resort, Inc. has a twelve month low of $88.13 and a twelve month high of $135.93. The firm’s 50 day moving average price is $125.51 and its two-hundred day moving average price is $112.60.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Monday, July 20th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. Monarch Casino & Resort had a net margin of 20.40% and a return on equity of 20.63%. The company had revenue of $142.60 million during the quarter, compared to the consensus estimate of $142.85 million. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 6.98 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MCRI. Jefferies Financial Group reissued a “hold” rating on shares of Monarch Casino & Resort in a research report on Thursday, July 2nd. Zacks Research cut shares of Monarch Casino & Resort from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company dropped their price objective on Monarch Casino & Resort from $116.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 21st. Truist Financial lifted their target price on Monarch Casino & Resort from $125.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Wall Street Zen cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Monarch Casino & Resort has an average rating of “Hold” and an average price target of $124.40.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 5,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 26.34% of the company’s stock.

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.