Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Get Free Report) announced a quarterly dividend on Monday, July 20th. Investors of record on Tuesday, September 1st will be given a dividend of 0.30 per share on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 1st.
Monarch Casino & Resort has a payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Monarch Casino & Resort to earn $7.64 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 15.7%.
Monarch Casino & Resort Price Performance
Shares of NASDAQ:MCRI opened at $124.38 on Tuesday. The stock has a market cap of $2.21 billion, a P/E ratio of 21.08 and a beta of 1.29. The firm has a fifty day moving average price of $124.41 and a 200 day moving average price of $107.60. Monarch Casino & Resort has a 1-year low of $88.13 and a 1-year high of $135.93.
Insider Buying and Selling
In other news, CEO John Farahi sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.84, for a total value of $604,200.00. Following the completion of the sale, the chief executive officer owned 616,556 shares in the company, valued at approximately $74,504,627.04. This trade represents a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.34% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. lifted its position in 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 during the period. Kestra Advisory Services LLC acquired a new position in Monarch Casino & Resort during the 4th quarter worth approximately $40,000. GAMMA Investing LLC raised its stake in shares of Monarch Casino & Resort by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock worth $94,000 after buying an additional 106 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Monarch Casino & Resort by 191.3% during the 1st quarter. Parallel Advisors LLC now owns 1,136 shares of the company’s stock worth $109,000 after buying an additional 746 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Monarch Casino & Resort by 69.8% during 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 in the last quarter. 62.37% of the stock is currently owned by institutional investors and hedge funds.
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.
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