Monarch Casino & Resort, Inc. (MCRI) to Issue Quarterly Dividend of $0.30 on September 15th

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) announced a quarterly dividend on Monday, July 20th. Stockholders of record on Tuesday, September 1st will be paid a dividend of 0.30 per share on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 1st.

Monarch Casino & Resort has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Monarch Casino & Resort to earn $7.64 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 15.7%.

Monarch Casino & Resort Trading Down 5.6%

Shares of MCRI stock opened at $117.45 on Wednesday. Monarch Casino & Resort has a 1-year low of $88.13 and a 1-year high of $135.93. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 18.82 and a beta of 1.29. The stock has a 50-day moving average of $124.44 and a 200-day moving average of $107.75.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Monday, July 20th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. Monarch Casino & Resort had a return on equity of 20.90% and a net margin of 20.40%.The company had revenue of $142.60 million for the quarter, compared to analyst estimates of $142.85 million. Sell-side analysts forecast that Monarch Casino & Resort will post 7.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO John Farahi sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following 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 ownership of the stock. The sale 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.

Institutional Trading of Monarch Casino & Resort

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCRI. Osaic Holdings Inc. raised its stake in Monarch Casino & Resort by 210.0% during the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after buying an additional 315 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $40,000. GAMMA Investing LLC increased its holdings in shares of Monarch Casino & Resort by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock valued at $94,000 after acquiring an additional 106 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Monarch Casino & Resort by 191.3% during the first quarter. Parallel Advisors LLC now owns 1,136 shares of the company’s stock worth $109,000 after purchasing an additional 746 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Monarch Casino & Resort by 69.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company’s stock worth $110,000 after purchasing an additional 524 shares during the period. 62.37% of the stock is owned by institutional investors.

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.