Louisiana State Employees Retirement System Takes Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Louisiana State Employees Retirement System bought a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 4th quarter, Holdings Channel.com reports. The firm bought 6,700 shares of the company’s stock, valued at approximately $463,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in Monarch Casino & Resort by 40.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 637 shares of the company’s stock valued at $40,000 after buying an additional 184 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Monarch Casino & Resort by 29.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,367 shares of the company’s stock valued at $147,000 after acquiring an additional 537 shares in the last quarter. Islay Capital Management LLC bought a new stake in Monarch Casino & Resort in the 3rd quarter valued at $158,000. Nisa Investment Advisors LLC increased its holdings in Monarch Casino & Resort by 53.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,871 shares of the company’s stock valued at $178,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Fidelity D & D Bancorp Inc. purchased a new stake in Monarch Casino & Resort in the 4th quarter worth $207,000. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Trading Up 1.4 %

Shares of NASDAQ MCRI opened at $69.03 on Tuesday. Monarch Casino & Resort, Inc. has a 1-year low of $56.25 and a 1-year high of $75.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.51 and a quick ratio of 0.45. The business’s 50 day moving average is $70.65 and its two-hundred day moving average is $67.34. The stock has a market capitalization of $1.30 billion, a P/E ratio of 16.32 and a beta of 1.66.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, February 14th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.11). The company had revenue of $128.19 million for the quarter, compared to the consensus estimate of $119.33 million. Monarch Casino & Resort had a net margin of 16.40% and a return on equity of 17.13%. As a group, research analysts expect that Monarch Casino & Resort, Inc. will post 4.46 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Friday, May 31st. Monarch Casino & Resort’s dividend payout ratio is currently 28.37%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MCRI. Macquarie raised their price objective on Monarch Casino & Resort from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Truist Financial lifted their price objective on Monarch Casino & Resort from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Thursday, February 15th. Stifel Nicolaus reiterated a “hold” rating and set a $70.00 target price on shares of Monarch Casino & Resort in a research report on Friday, January 5th. Finally, StockNews.com upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th.

Monarch Casino & Resort Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.