Public Sector Pension Investment Board Raises Stake in Monarch Casino & Resort, Inc. $MCRI

Public Sector Pension Investment Board raised its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 32.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,285 shares of the company’s stock after purchasing an additional 13,976 shares during the period. Public Sector Pension Investment Board owned 0.31% of Monarch Casino & Resort worth $6,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Monarch Casino & Resort by 199.1% during the third quarter. Farther Finance Advisors LLC now owns 329 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Monarch Casino & Resort by 210.0% during the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after buying an additional 315 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Monarch Casino & Resort during the 3rd quarter worth about $47,000. TD Private Client Wealth LLC increased its holdings in shares of Monarch Casino & Resort by 57.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 594 shares of the company’s stock valued at $63,000 after acquiring an additional 216 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Monarch Casino & Resort by 46.4% in the 3rd quarter. Blue Trust Inc. now owns 612 shares of the company’s stock valued at $65,000 after acquiring an additional 194 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Monarch Casino & Resort Price Performance

MCRI stock opened at $94.70 on Thursday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 17.44 and a beta of 1.34. The company has a fifty day moving average price of $94.77 and a 200 day moving average price of $97.26. 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 posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.12). Monarch Casino & Resort had a net margin of 18.60% and a return on equity of 18.68%. The business had revenue of $140.00 million during the quarter, compared to analyst estimates of $139.39 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, March 2nd. Monarch Casino & Resort’s dividend payout ratio (DPR) is 22.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MCRI shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Wall Street Zen cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Stifel Nicolaus lifted their price target 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. Wells Fargo & Company boosted their price target on shares of Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $112.00 price objective on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.80.

Insider Activity

In other news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $100.63, for a total transaction of $100,630.00. Following the completion of the sale, the chief executive officer owned 553,110 shares in the company, valued at $55,659,459.30. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 25.52% of the company’s stock.

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.