Emmett Investment Management LP Acquires 4,788 Shares of Monarch Casino & Resort, Inc. $MCRI

Emmett Investment Management LP grew its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,960 shares of the company’s stock after acquiring an additional 4,788 shares during the quarter. Monarch Casino & Resort comprises 3.9% of Emmett Investment Management LP’s investment portfolio, making the stock its 14th largest position. Emmett Investment Management LP owned about 0.30% of Monarch Casino & Resort worth $5,107,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MCRI. GAMMA Investing LLC raised its position in 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 purchasing an additional 106 shares in the last quarter. Mariner LLC raised its holdings in shares of Monarch Casino & Resort by 6.5% during the 3rd quarter. Mariner LLC now owns 2,493 shares of the company’s stock valued at $264,000 after buying an additional 152 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Monarch Casino & Resort by 3.5% during the 2nd quarter. Vident Advisory LLC now owns 5,566 shares of the company’s stock valued at $481,000 after buying an additional 186 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Monarch Casino & Resort by 6.0% in the 4th quarter. Panagora Asset Management Inc. now owns 3,490 shares of the company’s stock worth $334,000 after buying an additional 198 shares during the last quarter. Finally, Strs Ohio lifted its position in Monarch Casino & Resort by 2.7% in the 4th quarter. Strs Ohio now owns 7,500 shares of the company’s stock worth $718,000 after buying an additional 200 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 5,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were 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. The trade was a 0.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 26.34% of the company’s stock.

Monarch Casino & Resort Price Performance

Shares of MCRI opened at $121.69 on Tuesday. The company has a 50-day simple moving average of $124.58 and a two-hundred day simple moving average of $108.43. The firm has a market capitalization of $2.16 billion, a PE ratio of 19.50 and a beta of 1.29. Monarch Casino & Resort, Inc. has a one year low of $88.13 and a one year high of $135.93.

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

Monarch Casino & Resort Announces Dividend

The company also recently declared 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. This represents a $1.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 1st. Monarch Casino & Resort’s dividend payout ratio is presently 19.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group restated a “hold” rating on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monarch Casino & Resort in a report on Wednesday, May 27th. Stifel Nicolaus boosted their price target on shares of Monarch Casino & Resort from $102.00 to $128.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. UBS Group set a $124.00 price target on shares of Monarch Casino & Resort in a research report on Thursday, July 2nd. Finally, Wall Street Zen upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $124.40.

Monarch Casino & Resort 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.