Assenagon Asset Management S.A. Has $3.78 Million Stock Holdings in Monarch Casino & Resort, Inc. $MCRI

Assenagon Asset Management S.A. decreased its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 41.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,533 shares of the company’s stock after selling 28,559 shares during the quarter. Assenagon Asset Management S.A. owned about 0.22% of Monarch Casino & Resort worth $3,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Monarch Casino & Resort by 12.1% in the fourth quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock worth $94,000 after acquiring an additional 106 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Monarch Casino & Resort by 2.2% during the third quarter. Illinois Municipal Retirement Fund now owns 6,703 shares of the company’s stock worth $709,000 after acquiring an additional 142 shares during the period. Mariner LLC raised its stake in Monarch Casino & Resort by 6.5% during the 3rd quarter. Mariner LLC now owns 2,493 shares of the company’s stock valued at $264,000 after purchasing an additional 152 shares during the last quarter. Vident Advisory LLC raised its stake in Monarch Casino & Resort by 3.5% during the 2nd quarter. Vident Advisory LLC now owns 5,566 shares of the company’s stock valued at $481,000 after purchasing an additional 186 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in 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 purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

Analyst Ratings Changes

MCRI has been the topic of several research reports. Zacks Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a research report on Monday, December 29th. Wells Fargo & Company boosted their price target on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $112.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, December 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Monarch Casino & Resort currently has a consensus rating of “Moderate Buy” and an average target price of $99.80.

Insiders Place Their Bets

In other news, CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $99.00, for a total transaction of $198,000.00. Following the completion of the sale, the chief executive officer owned 536,304 shares of the company’s stock, valued at approximately $53,094,096. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 25.52% of the company’s stock.

Monarch Casino & Resort Stock Performance

NASDAQ MCRI opened at $93.98 on Monday. Monarch Casino & Resort, Inc. has a 1-year low of $69.99 and a 1-year high of $113.88. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 17.31 and a beta of 1.29. The stock’s 50 day moving average is $95.39 and its two-hundred day moving average is $96.39.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, February 4th. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.12). The company had revenue of $140.00 million during the quarter, compared to analyst estimates of $139.39 million. Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. On average, analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid 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 was Monday, March 2nd. Monarch Casino & Resort’s dividend payout ratio is currently 22.10%.

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.