Nisa Investment Advisors LLC Cuts Stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Nisa Investment Advisors LLC lessened its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 12.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,483 shares of the company’s stock after selling 210 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Monarch Casino & Resort were worth $115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. TD Private Client Wealth LLC increased its position in Monarch Casino & Resort by 72.6% in the first quarter. TD Private Client Wealth LLC now owns 378 shares of the company’s stock worth $29,000 after purchasing an additional 159 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Monarch Casino & Resort by 0.8% during the first quarter. Envestnet Asset Management Inc. now owns 42,637 shares of the company’s stock valued at $3,315,000 after purchasing an additional 353 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Monarch Casino & Resort by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 68,861 shares of the company’s stock worth $5,354,000 after buying an additional 1,695 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Monarch Casino & Resort by 3.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company’s stock worth $526,000 after buying an additional 254 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Monarch Casino & Resort by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company’s stock valued at $104,000 after acquiring an additional 666 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Wall Street Analysts Forecast Growth

MCRI has been the topic of a number of recent research reports. Truist Financial upped their price objective on Monarch Casino & Resort from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company upgraded Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $83.00 to $89.00 in a report on Thursday. Macquarie reaffirmed a “neutral” rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Stifel Nicolaus boosted their price objective on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Monarch Casino & Resort has a consensus rating of “Hold” and an average price target of $93.20.

Monarch Casino & Resort Stock Up 0.3%

MCRI opened at $105.15 on Friday. The business has a fifty day moving average of $85.83 and a 200 day moving average of $83.48. The stock has a market cap of $1.94 billion, a P/E ratio of 19.77 and a beta of 1.54. Monarch Casino & Resort, Inc. has a 52-week low of $67.14 and a 52-week high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.22. The business had revenue of $136.91 million during the quarter, compared to the consensus estimate of $129.76 million. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%. Equities analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be given a $0.30 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.20 annualized dividend and a yield of 1.14%. Monarch Casino & Resort’s dividend payout ratio (DPR) is 22.56%.

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.