Raymond James Financial Inc. Takes $6.12 Million Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Raymond James Financial Inc. bought a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 4th quarter, Holdings Channel reports. The fund bought 77,540 shares of the company’s stock, valued at approximately $6,118,000.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $53,000. KBC Group NV boosted its holdings in Monarch Casino & Resort by 67.8% in the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after acquiring an additional 396 shares in the last quarter. Independence Bank of Kentucky purchased a new position in Monarch Casino & Resort during the 4th quarter valued at $93,000. Nisa Investment Advisors LLC raised its holdings in Monarch Casino & Resort by 30.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after purchasing an additional 400 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Monarch Casino & Resort in the 4th quarter worth about $202,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Trading Down 1.0 %

Monarch Casino & Resort stock opened at $77.06 on Friday. Monarch Casino & Resort, Inc. has a 12 month low of $64.58 and a 12 month high of $96.11. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 15.57 and a beta of 1.57. The business’s fifty day simple moving average is $81.68 and its two-hundred day simple moving average is $81.97.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results 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. The company had revenue of $125.39 million for the quarter, compared to analysts’ expectations of $122.70 million. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. On average, equities research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Announces Dividend

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

Analyst Upgrades and Downgrades

MCRI has been the subject of a number of research reports. Truist Financial decreased their price target on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday. Macquarie restated a “neutral” rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a research note on Wednesday. Jefferies Financial Group upped their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Stifel Nicolaus lowered their price objective on Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Monarch Casino & Resort presently has a consensus rating of “Hold” and a consensus target price of $88.60.

Monarch Casino & Resort 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.