Connor Clark & Lunn Investment Management Ltd. Grows Position in Monarch Casino & Resort, Inc. $MCRI

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 29.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,353 shares of the company’s stock after purchasing an additional 1,225 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Monarch Casino & Resort were worth $463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Monarch Casino & Resort by 51.2% during the second quarter. Parallel Advisors LLC now owns 384 shares of the company’s stock valued at $33,000 after buying an additional 130 shares during the last quarter. Vestcor Inc acquired a new stake in Monarch Casino & Resort during the 1st quarter worth about $58,000. GAMMA Investing LLC grew its stake in Monarch Casino & Resort by 28.7% during the 2nd quarter. GAMMA Investing LLC now owns 839 shares of the company’s stock valued at $73,000 after purchasing an additional 187 shares during the last quarter. Meeder Asset Management Inc. grew its stake in Monarch Casino & Resort by 45.3% during the 1st quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company’s stock valued at $89,000 after purchasing an additional 355 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Monarch Casino & Resort by 264.7% in the first quarter. CWM LLC now owns 1,827 shares of the company’s stock valued at $142,000 after purchasing an additional 1,326 shares during the period. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Monarch Casino & Resort Trading Up 0.6%

Shares of MCRI stock opened at $95.22 on Friday. Monarch Casino & Resort, Inc. has a 12-month low of $69.99 and a 12-month high of $113.88. The business’s 50 day moving average is $97.30 and its two-hundred day moving average is $94.11. The company has a market capitalization of $1.74 billion, a P/E ratio of 17.19 and a beta of 1.48.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Tuesday, October 21st. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $142.81 million for the quarter, compared to analyst estimates of $145.54 million. On average, research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The business 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. This represents a $1.20 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, December 1st. Monarch Casino & Resort’s dividend payout ratio (DPR) is presently 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.