20,918 Shares in Monarch Casino & Resort, Inc. $MCRI Bought by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC purchased a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,918 shares of the company’s stock, valued at approximately $2,214,000. ArrowMark Colorado Holdings LLC owned approximately 0.11% of Monarch Casino & Resort at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCRI. Farther Finance Advisors LLC lifted its holdings in shares of Monarch Casino & Resort by 199.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 329 shares of the company’s stock worth $35,000 after acquiring an additional 219 shares during the period. Osaic Holdings Inc. increased its stake in Monarch Casino & Resort by 210.0% in the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock valued at $40,000 after acquiring an additional 315 shares during the period. USA Financial Formulas acquired a new position in Monarch Casino & Resort in the third quarter worth about $47,000. TD Private Client Wealth LLC raised its position in Monarch Casino & Resort by 57.1% in the third 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. lifted its stake in Monarch Casino & Resort by 46.4% during the third quarter. Blue Trust Inc. now owns 612 shares of the company’s stock worth $65,000 after purchasing an additional 194 shares during the period. Institutional investors own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MCRI. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Jefferies Financial Group reissued a “hold” rating and issued a $112.00 target price on shares of Monarch Casino & Resort in a report on Wednesday, December 24th. Zacks Research upgraded Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Monarch Casino & Resort has an average rating of “Moderate Buy” and an average price target of $99.80.

Monarch Casino & Resort Stock Up 0.8%

Monarch Casino & Resort stock opened at $100.41 on Monday. The stock has a 50-day simple moving average of $94.49 and a 200 day simple moving average of $96.79. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 18.49 and a beta of 1.29. 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 issued 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). The company had revenue of $140.00 million for the quarter, compared to the consensus estimate of $139.39 million. Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. As a group, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 2nd. Monarch Casino & Resort’s dividend payout ratio is 22.10%.

Insider Activity at Monarch Casino & Resort

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

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.