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

Russell Investments Group Ltd. decreased its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 also recently added to or reduced their stakes in MCRI. Raymond James Financial Inc. acquired a new stake in shares of Monarch Casino & Resort during the 4th quarter worth about $6,118,000. JPMorgan Chase & Co. increased its stake in Monarch Casino & Resort by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock valued at $72,488,000 after purchasing an additional 72,764 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in 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. Norges Bank purchased a new stake in shares of Monarch Casino & Resort during the 4th quarter worth approximately $3,653,000. Finally, American Century Companies Inc. boosted its holdings in shares of Monarch Casino & Resort by 9.3% in the 4th quarter. American Century Companies Inc. now owns 404,073 shares of the company’s stock valued at $31,881,000 after buying an additional 34,384 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

Shares of NASDAQ:MCRI 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 firm 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 50 day simple moving average is $81.68 and its 200-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 for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $125.39 million during the quarter, compared to analysts’ expectations of $122.70 million. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. On average, equities analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, May 30th. Monarch Casino & Resort’s dividend payout ratio (DPR) is presently 24.24%.

Analysts Set New Price Targets

Several equities analysts have issued reports on MCRI shares. Truist Financial dropped their price objective on Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company raised their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 12th. Macquarie reiterated a “neutral” rating and issued a $92.00 price objective on shares of Monarch Casino & Resort in a research note on Wednesday. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $88.60.

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.