UBS Group AG grew its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Free Report) by 26.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,451 shares of the company’s stock after buying an additional 9,855 shares during the quarter. UBS Group AG’s holdings in Monarch Casino & Resort were worth $4,445,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Monarch Casino & Resort by 4.3% during the 3rd quarter. American Century Companies Inc. now owns 491,400 shares of the company’s stock worth $52,010,000 after buying an additional 20,328 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Monarch Casino & Resort during the 3rd quarter worth about $1,348,000. Public Sector Pension Investment Board raised its position in shares of Monarch Casino & Resort by 32.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 57,285 shares of the company’s stock worth $6,063,000 after buying an additional 13,976 shares in the last quarter. ArrowMark Colorado Holdings LLC bought a new stake in shares of Monarch Casino & Resort during the 3rd quarter worth about $2,214,000. Finally, Clark Capital Management Group Inc. bought a new stake in shares of Monarch Casino & Resort during the 3rd quarter worth about $6,192,000. 62.37% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $99.00, for a total value of $198,000.00. Following the completion of the transaction, the chief executive officer owned 536,304 shares of the company’s stock, valued at approximately $53,094,096. This trade represents a 0.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 26.34% of the company’s stock.
Monarch Casino & Resort Price Performance
Monarch Casino & Resort (NASDAQ:MCRI – Get Free Report) last released its earnings results on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $128.49 million. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, analysts anticipate that Monarch Casino & Resort, Inc. will post 7.07 earnings per share for the current year.
Monarch Casino & Resort Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, June 1st. Monarch Casino & Resort’s dividend payout ratio is 20.34%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. Truist Financial boosted their target price on shares of Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Zacks Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Wells Fargo & Company boosted their target price on shares of Monarch Casino & Resort from $97.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.50.
Read Our Latest Research Report on MCRI
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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