Acadian Asset Management LLC Trims Stock Position in Monarch Casino & Resort, Inc. $MCRI

Acadian Asset Management LLC decreased its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 20.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,292 shares of the company’s stock after selling 9,245 shares during the quarter. Acadian Asset Management LLC owned approximately 0.19% of Monarch Casino & Resort worth $3,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Monarch Casino & Resort by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,028,325 shares of the company’s stock worth $79,952,000 after acquiring an additional 24,616 shares during the last quarter. American Century Companies Inc. raised its stake in Monarch Casino & Resort by 10.5% during the first quarter. American Century Companies Inc. now owns 446,600 shares of the company’s stock worth $34,723,000 after purchasing an additional 42,527 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Monarch Casino & Resort by 40.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 343,565 shares of the company’s stock worth $26,712,000 after purchasing an additional 98,371 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Monarch Casino & Resort by 10.9% in the 1st quarter. Wellington Management Group LLP now owns 233,513 shares of the company’s stock valued at $18,156,000 after purchasing an additional 23,010 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Monarch Casino & Resort by 147.1% during the 1st quarter. Invesco Ltd. now owns 222,770 shares of the company’s stock valued at $17,320,000 after buying an additional 132,599 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MCRI. Wall Street Zen cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $92.00 to $97.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Wells Fargo & Company lifted their price objective on Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Zacks Research downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Monarch Casino & Resort in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $94.60.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $95.59 on Friday. The company’s fifty day moving average price is $97.94 and its two-hundred day moving average price is $93.66. The firm has a market capitalization of $1.74 billion, a P/E ratio of 17.25 and a beta of 1.48. Monarch Casino & Resort, Inc. has a 12 month low of $69.99 and a 12 month high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Tuesday, October 21st. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.06. Monarch Casino & Resort had a return on equity of 19.33% and a net margin of 19.26%.The company had revenue of $142.81 million during the quarter, compared to the consensus estimate of $145.54 million. On average, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, December 1st. This represents a $1.20 annualized dividend and a yield of 1.3%. Monarch Casino & Resort’s payout ratio is currently 21.66%.

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.