Assenagon Asset Management S.A. Sells 28,559 Shares of Monarch Casino & Resort, Inc. $MCRI

Assenagon Asset Management S.A. decreased its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 41.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 39,533 shares of the company’s stock after selling 28,559 shares during the period. Assenagon Asset Management S.A.’s holdings in Monarch Casino & Resort were worth $3,783,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in Monarch Casino & Resort by 199.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 329 shares of the company’s stock valued at $35,000 after acquiring an additional 219 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Monarch Casino & Resort by 210.0% in the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock valued at $40,000 after purchasing an additional 315 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Monarch Casino & Resort in the third quarter valued at approximately $47,000. TD Private Client Wealth LLC raised its position in Monarch Casino & Resort by 57.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 594 shares of the company’s stock worth $63,000 after purchasing an additional 216 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Monarch Casino & Resort by 46.4% in the 3rd quarter. Blue Trust Inc. now owns 612 shares of the company’s stock worth $65,000 after purchasing an additional 194 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Analyst Ratings Changes

MCRI has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Monarch Casino & Resort in a research report on Monday, December 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $112.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. Finally, Zacks Research upgraded Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.80.

Monarch Casino & Resort Stock Performance

MCRI opened at $93.98 on Monday. The company has a fifty day moving average price of $95.39 and a two-hundred day moving average price of $96.39. The firm has a market capitalization of $1.68 billion, a PE ratio of 17.31 and a beta of 1.29. Monarch Casino & Resort, Inc. has a 52 week low of $69.99 and a 52 week high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $140.00 million during the quarter, compared to analyst estimates of $139.39 million. During the same period last year, the company earned $0.22 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.20 annualized dividend and a yield of 1.3%. Monarch Casino & Resort’s dividend payout ratio is presently 22.10%.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $99.00, for a total transaction of $198,000.00. Following the transaction, the chief executive officer owned 536,304 shares in the company, valued at approximately $53,094,096. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 25.52% of the company’s stock.

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.