New York State Teachers Retirement System Sells 6,296 Shares of Monarch Casino & Resort, Inc. $MCRI

New York State Teachers Retirement System lowered its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 27.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,241 shares of the company’s stock after selling 6,296 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Monarch Casino & Resort worth $1,553,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Osaic Holdings Inc. increased its stake 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 worth $40,000 after purchasing an additional 315 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Monarch Casino & Resort during the 4th quarter valued at $40,000. GAMMA Investing LLC boosted its holdings in Monarch Casino & Resort by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock worth $94,000 after buying an additional 106 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Monarch Casino & Resort by 69.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company’s stock worth $110,000 after buying an additional 524 shares during the period. Finally, Evergreen Capital Management LLC purchased a new stake in Monarch Casino & Resort in the 4th quarter worth $209,000. 62.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the transaction, the chief executive officer owned 616,556 shares in the company, valued at $74,504,627.04. This trade represents a 0.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 26.34% of the company’s stock.

Monarch Casino & Resort Trading Down 1.4%

MCRI traded down $1.70 during trading on Friday, hitting $123.86. 101,817 shares of the company traded hands, compared to its average volume of 190,092. The company has a market cap of $2.20 billion, a PE ratio of 20.99 and a beta of 1.29. The stock’s 50-day simple moving average is $123.58 and its two-hundred day simple moving average is $106.39. Monarch Casino & Resort, Inc. has a 1 year low of $85.66 and a 1 year high of $135.93.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.15 by $0.37. Monarch Casino & Resort had a net margin of 19.62% and a return on equity of 19.98%. The business had revenue of $136.55 million for the quarter, compared to analysts’ expectations of $128.49 million. The business’s revenue was up 8.9% on a year-over-year basis. Equities analysts expect that Monarch Casino & Resort, Inc. will post 7.07 EPS for the current year.

Monarch Casino & Resort Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, June 1st. Monarch Casino & Resort’s payout ratio is currently 20.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their price target on Monarch Casino & Resort from $97.00 to $102.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monarch Casino & Resort in a research note on Wednesday, May 27th. Wells Fargo & Company increased their target price on Monarch Casino & Resort from $97.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group reissued a “hold” rating on shares of Monarch Casino & Resort in a research note on Thursday, July 2nd. Finally, UBS Group set a $124.00 price target on Monarch Casino & Resort in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $112.40.

Monarch Casino & Resort Company 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.