Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shareholders to Collect $0.30 Quarterly Dividend

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.30 per share on Tuesday, December 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, December 1st.

Monarch Casino & Resort has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Monarch Casino & Resort to earn $7.19 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 16.7%.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $115.28 on Wednesday. Monarch Casino & Resort has a fifty-two week low of $88.13 and a fifty-two week high of $135.93. The company’s 50 day moving average price is $118.84 and its two-hundred day moving average price is $112.18.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Tuesday, October 27th. The company reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.10). The business had revenue of $146.26 million for the quarter, compared to analysts’ expectations of $147.93 million. During the same quarter in the previous year, the firm posted $1.69 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. On average, research analysts anticipate that Monarch Casino & Resort will post 6.98 EPS for the current year.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $124.00, for a total transaction of $620,000.00. Following the completion of the sale, the chief executive officer owned 611,556 shares in the company, valued at $75,832,944. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 26.34% of the company’s stock.

Institutional Trading of Monarch Casino & Resort

Several hedge funds have recently made changes to their positions in MCRI. Westover Capital Advisors LLC increased its holdings in Monarch Casino & Resort by 60.5% in the 3rd quarter. Westover Capital Advisors LLC now owns 12,040 shares of the company’s stock worth $1,385,000 after acquiring an additional 4,537 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Monarch Casino & Resort by 90.2% during the 3rd quarter. Signaturefd LLC now owns 1,478 shares of the company’s stock valued at $170,000 after buying an additional 701 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Monarch Casino & Resort by 839.5% in the 3rd quarter. Sterling Capital Management LLC now owns 404 shares of the company’s stock worth $46,000 after buying an additional 361 shares during the period. Vest Financial LLC grew its stake in Monarch Casino & Resort by 108.5% in the 3rd quarter. Vest Financial LLC now owns 32,564 shares of the company’s stock valued at $3,745,000 after buying an additional 16,949 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Monarch Casino & Resort by 29.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,246 shares of the company’s stock valued at $488,000 after acquiring an additional 958 shares during the period. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc operates casino resorts in Nevada and Colorado. The company’s properties combine casino gaming with hotel accommodations, dining, entertainment and other hospitality services.

Its principal properties are Atlantis Casino Resort Spa in Reno, Nevada, and Monarch Casino Resort Spa in Black Hawk, Colorado. The resorts offer gaming facilities, restaurants and bars, hotel rooms and suites, spa services, meeting spaces and entertainment options. The company primarily serves regional visitors and destination guests in the western United States.

Monarch Casino & Resort traces its history to the opening of the Atlantis in Reno in 1972.