LPL Financial LLC Increases Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

LPL Financial LLC increased its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 47.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,737 shares of the company’s stock after acquiring an additional 2,155 shares during the quarter. LPL Financial LLC’s holdings in Monarch Casino & Resort were worth $532,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MCRI. Barclays PLC boosted its holdings in shares of Monarch Casino & Resort by 108.2% in the 3rd quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after buying an additional 17,413 shares during the last quarter. Franklin Resources Inc. raised its position in Monarch Casino & Resort by 7.3% in the third quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock worth $665,000 after acquiring an additional 597 shares during the period. Heritage Family Offices LLP boosted its stake in Monarch Casino & Resort by 7.0% in the fourth quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock valued at $236,000 after acquiring an additional 196 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Monarch Casino & Resort during the 4th quarter valued at approximately $254,000. Finally, Annex Advisory Services LLC increased its stake in shares of Monarch Casino & Resort by 28.5% during the 4th quarter. Annex Advisory Services LLC now owns 15,953 shares of the company’s stock worth $1,259,000 after purchasing an additional 3,541 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MCRI. Macquarie reissued a “neutral” rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a report on Wednesday. Stifel Nicolaus lowered their price objective on Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday. Truist Financial dropped their price objective on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $88.60.

Monarch Casino & Resort Stock Down 1.0 %

Shares of MCRI opened at $77.06 on Friday. The business’s 50-day moving average price is $81.68 and its 200-day moving average price is $81.97. Monarch Casino & Resort, Inc. has a twelve month low of $64.58 and a twelve month high of $96.11. The stock has a market cap of $1.42 billion, a PE ratio of 15.57 and a beta of 1.57.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. The business 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%. Analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share 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. Investors of record on Sunday, June 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, May 30th. Monarch Casino & Resort’s dividend payout ratio is 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.