Arrowstreet Capital Limited Partnership Buys 10,553 Shares of Monarch Casino & Resort, Inc. $MCRI

Arrowstreet Capital Limited Partnership lifted its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 10.7% in the second quarter, HoldingsChannel.com reports. The fund owned 108,791 shares of the company’s stock after acquiring an additional 10,553 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Monarch Casino & Resort were worth $9,404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCRI. US Bancorp DE lifted its stake in Monarch Casino & Resort by 33.8% during the first quarter. US Bancorp DE now owns 7,835 shares of the company’s stock worth $609,000 after purchasing an additional 1,980 shares during the last quarter. Vanguard Group Inc. boosted its stake in Monarch Casino & Resort by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,028,325 shares of the company’s stock worth $79,952,000 after buying an additional 24,616 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Monarch Casino & Resort by 10.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 131,028 shares of the company’s stock worth $10,187,000 after buying an additional 12,516 shares in the last quarter. Invesco Ltd. grew its position in Monarch Casino & Resort by 147.1% during the first quarter. Invesco Ltd. now owns 222,770 shares of the company’s stock valued at $17,320,000 after acquiring an additional 132,599 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Monarch Casino & Resort during the first quarter worth approximately $9,872,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Down 0.1%

Shares of Monarch Casino & Resort stock opened at $95.95 on Wednesday. The business has a 50 day moving average of $95.52 and a 200 day moving average of $95.69. Monarch Casino & Resort, Inc. has a 52 week low of $69.99 and a 52 week high of $113.88. The company has a market cap of $1.75 billion, a PE ratio of 17.32 and a beta of 1.37.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.06. Monarch Casino & Resort had a net margin of 19.26% and a return on equity of 19.33%. The business had revenue of $142.81 million for the quarter, compared to the consensus estimate of $145.54 million. On average, research analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, December 1st. Monarch Casino & Resort’s dividend payout ratio is presently 21.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Wells Fargo & Company upped their price target on shares of Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. Zacks Research downgraded Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a research note on Monday, December 1st. Finally, Stifel Nicolaus increased their target price on Monarch Casino & Resort from $92.00 to $97.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Monarch Casino & Resort presently has an average rating of “Hold” and a consensus target price of $94.60.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.