Assenagon Asset Management S.A. Boosts Holdings in Monarch Casino & Resort, Inc. $MCRI

Assenagon Asset Management S.A. grew its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 211.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,092 shares of the company’s stock after purchasing an additional 46,235 shares during the quarter. Assenagon Asset Management S.A. owned about 0.37% of Monarch Casino & Resort worth $7,207,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Monarch Casino & Resort in the 1st quarter worth $5,904,000. Geode Capital Management LLC raised its stake in Monarch Casino & Resort by 20.0% in the second quarter. Geode Capital Management LLC now owns 391,868 shares of the company’s stock valued at $33,877,000 after buying an additional 65,272 shares during the last quarter. Norges Bank acquired a new stake in Monarch Casino & Resort in the second quarter worth about $3,682,000. Lazard Asset Management LLC boosted its holdings in Monarch Casino & Resort by 1,483.4% in the second quarter. Lazard Asset Management LLC now owns 42,561 shares of the company’s stock worth $3,678,000 after acquiring an additional 39,873 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in shares of Monarch Casino & Resort by 726.4% during the first quarter. Trexquant Investment LP now owns 37,289 shares of the company’s stock worth $2,899,000 after acquiring an additional 32,777 shares during the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Stock Down 1.0%

MCRI stock opened at $99.62 on Monday. The firm has a market cap of $1.82 billion, a P/E ratio of 17.98 and a beta of 1.37. Monarch Casino & Resort, Inc. has a 52-week low of $69.99 and a 52-week high of $113.88. The company’s 50-day simple moving average is $95.24 and its 200-day simple moving average is $96.56.

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

Monarch Casino & Resort Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, December 1st. Monarch Casino & Resort’s payout ratio is 21.66%.

Wall Street Analyst Weigh In

MCRI has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monarch Casino & Resort in a research report on Monday, December 15th. Wells Fargo & Company raised their price target on shares of 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 downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Wall Street Zen downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Stifel Nicolaus raised their target price on 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 analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $94.60.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.