Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 28.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,865 shares of the company’s stock after selling 1,569 shares during the quarter. Russell Investments Group Ltd.’s holdings in Monarch Casino & Resort were worth $305,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MCRI. DAVENPORT & Co LLC grew its stake in Monarch Casino & Resort by 1.6% during the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company’s stock worth $98,696,000 after buying an additional 19,845 shares during the period. Vanguard Group Inc. boosted its position in Monarch Casino & Resort by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company’s stock worth $79,193,000 after purchasing an additional 9,234 shares during the period. JPMorgan Chase & Co. boosted its position in Monarch Casino & Resort by 8.6% during the 4th quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock worth $72,488,000 after purchasing an additional 72,764 shares during the period. American Century Companies Inc. raised its position in Monarch Casino & Resort by 9.3% in the fourth quarter. American Century Companies Inc. now owns 404,073 shares of the company’s stock valued at $31,881,000 after purchasing an additional 34,384 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Monarch Casino & Resort by 103.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 133,673 shares of the company’s stock worth $10,547,000 after purchasing an additional 67,973 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Analyst Ratings Changes

MCRI has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price target on Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating for the company in a report on Wednesday. Wells Fargo & Company raised their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a report on Wednesday, February 12th. Macquarie reissued a “neutral” rating and issued a $92.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Truist Financial reduced their price target on Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $88.60.

Monarch Casino & Resort Stock Performance

MCRI stock opened at $77.06 on Friday. The stock’s fifty day moving average is $81.68 and its two-hundred day moving average is $81.97. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 15.57 and a beta of 1.57. Monarch Casino & Resort, Inc. has a 1 year low of $64.58 and a 1 year high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. The business had revenue of $125.39 million during the quarter, compared to analyst estimates of $122.70 million. As a group, analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. Monarch Casino & Resort’s dividend payout ratio is currently 24.24%.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.