Cerity Partners LLC Has $514,000 Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Cerity Partners LLC increased its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 35.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,605 shares of the company’s stock after purchasing an additional 1,719 shares during the period. Cerity Partners LLC’s holdings in Monarch Casino & Resort were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC raised its holdings in Monarch Casino & Resort by 47.0% in the 4th quarter. LPL Financial LLC now owns 6,737 shares of the company’s stock valued at $532,000 after acquiring an additional 2,155 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Monarch Casino & Resort by 3.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company’s stock valued at $526,000 after acquiring an additional 254 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Monarch Casino & Resort by 45.6% in the 1st quarter. GHP Investment Advisors Inc. now owns 11,075 shares of the company’s stock valued at $861,000 after acquiring an additional 3,467 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in 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 in the last quarter. Finally, Deutsche Bank AG raised its holdings in Monarch Casino & Resort by 45.3% in the 4th quarter. Deutsche Bank AG now owns 11,160 shares of the company’s stock valued at $881,000 after acquiring an additional 3,477 shares in the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, Director Craig F. Sullivan sold 12,200 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $105.55, for a total value of $1,287,710.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Farahi sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $105.78, for a total value of $211,560.00. Following the completion of the sale, the chief executive officer owned 560,110 shares in the company, valued at $59,248,435.80. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. 25.52% of the stock is owned by corporate insiders.

Monarch Casino & Resort Stock Down 1.0%

Shares of MCRI opened at $104.34 on Friday. Monarch Casino & Resort, Inc. has a 12-month low of $69.99 and a 12-month high of $113.88. The business has a 50-day simple moving average of $88.19 and a two-hundred day simple moving average of $84.44. The stock has a market cap of $1.93 billion, a PE ratio of 19.61 and a beta of 1.54.

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

Monarch Casino & Resort Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.20 dividend on an annualized basis and a yield of 1.15%. Monarch Casino & Resort’s payout ratio is presently 22.56%.

Analyst Ratings Changes

MCRI has been the subject of several analyst reports. Wells Fargo & Company raised Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $83.00 to $89.00 in a report on Thursday, July 17th. Truist Financial lifted their price objective on Monarch Casino & Resort from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. Macquarie reissued a “neutral” rating and set a $92.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus boosted their price target on Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $93.20.

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.