AdvisorShares Investments LLC Boosts Stock Position in Monarch Casino & Resort, Inc. $MCRI

AdvisorShares Investments LLC boosted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 123.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,812 shares of the company’s stock after purchasing an additional 5,414 shares during the period. AdvisorShares Investments LLC’s holdings in Monarch Casino & Resort were worth $1,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MCRI. AQR Capital Management LLC lifted its holdings in shares of Monarch Casino & Resort by 36.0% in the 1st quarter. AQR Capital Management LLC now owns 57,731 shares of the company’s stock worth $4,489,000 after acquiring an additional 15,295 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Monarch Casino & Resort by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,618 shares of the company’s stock worth $592,000 after purchasing an additional 316 shares during the period. Yousif Capital Management LLC purchased a new position in shares of Monarch Casino & Resort in the second quarter worth $212,000. Ritholtz Wealth Management increased its position in shares of Monarch Casino & Resort by 56.5% in the second quarter. Ritholtz Wealth Management now owns 31,529 shares of the company’s stock valued at $2,725,000 after acquiring an additional 11,389 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Monarch Casino & Resort in the second quarter worth about $2,252,000. 62.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MCRI has been the subject of a number of recent analyst reports. Wall Street Zen lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Wells Fargo & Company boosted their target price on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research note on Thursday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $112.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monarch Casino & Resort in a research report on Monday, December 29th. Finally, Stifel Nicolaus raised their target price on Monarch Casino & Resort from $92.00 to $97.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Monarch Casino & Resort currently has a consensus rating of “Hold” and a consensus target price of $99.80.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $100.63, for a total value of $100,630.00. Following the transaction, the chief executive officer owned 553,110 shares of the company’s stock, valued at approximately $55,659,459.30. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 25.52% of the company’s stock.

Monarch Casino & Resort Price Performance

MCRI stock opened at $98.87 on Friday. The stock has a market capitalization of $1.80 billion, a P/E ratio of 18.21 and a beta of 1.34. Monarch Casino & Resort, Inc. has a 1-year low of $69.99 and a 1-year high of $113.88. The business has a fifty day moving average price of $94.88 and a 200-day moving average price of $97.74.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, February 4th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.12). Monarch Casino & Resort had a net margin of 18.60% and a return on equity of 18.68%. The business had revenue of $140.00 million for the quarter, compared to analysts’ expectations of $139.39 million. During the same period last year, the business earned $0.22 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 1.2%. Monarch Casino & Resort’s payout ratio is currently 22.10%.

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.