AdvisorShares Investments LLC Purchases 5,414 Shares of Monarch Casino & Resort, Inc. $MCRI

AdvisorShares Investments LLC lifted its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 123.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,812 shares of the company’s stock after purchasing an additional 5,414 shares during the period. AdvisorShares Investments LLC owned 0.05% of Monarch Casino & Resort worth $1,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in Monarch Casino & Resort by 199.1% in the third quarter. Farther Finance Advisors LLC now owns 329 shares of the company’s stock worth $35,000 after acquiring an additional 219 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Monarch Casino & Resort by 210.0% during the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after purchasing an additional 315 shares during the period. USA Financial Formulas bought a new position in shares of Monarch Casino & Resort in the 3rd quarter worth $47,000. TD Private Client Wealth LLC lifted 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 worth $63,000 after purchasing an additional 216 shares in the last quarter. Finally, Blue Trust Inc. grew its position 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. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Stock Performance

Shares of MCRI opened at $98.87 on Friday. Monarch Casino & Resort, Inc. has a fifty-two week low of $69.99 and a fifty-two week high of $113.88. The business has a 50-day moving average of $94.88 and a 200 day moving average of $97.74. The firm has a market cap of $1.80 billion, a P/E ratio of 18.21 and a beta of 1.34.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, February 4th. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.12). Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The business had revenue of $140.00 million for the quarter, compared to the consensus estimate of $139.39 million. During the same quarter in the prior year, the business earned $0.22 EPS. Monarch Casino & Resort’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, March 2nd. Monarch Casino & Resort’s payout ratio is 22.10%.

Insider Activity at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $100.63, for a total value of $100,630.00. Following the sale, the chief executive officer owned 553,110 shares in the company, valued at approximately $55,659,459.30. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 25.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MCRI shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $112.00 price objective on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. Wall Street Zen downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Wells Fargo & Company raised their target price on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Stifel Nicolaus lifted their target price on Monarch Casino & Resort from $92.00 to $97.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $99.80.

Monarch Casino & Resort Profile

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.