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Invesco Ltd. cut its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Free Report) by 50.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,171 shares of the company’s stock after selling 93,656 shares during the quarter. Invesco Ltd. owned 0.49% of Monarch Casino & Resort worth $7,114,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at $202,000. Cerity Partners LLC acquired a new stake in Monarch Casino & Resort in the 4th quarter valued at about $386,000. Aristides Capital LLC boosted its stake in shares of Monarch Casino & Resort by 38.3% in the 4th quarter. Aristides Capital LLC now owns 4,049 shares of the company’s stock valued at $319,000 after buying an additional 1,122 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Monarch Casino & Resort by 4.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 42,284 shares of the company’s stock worth $3,336,000 after buying an additional 1,647 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Monarch Casino & Resort in the fourth quarter valued at approximately $265,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.
Monarch Casino & Resort Stock Down 1.0 %
Shares of NASDAQ MCRI opened at $77.06 on Friday. The stock has a market cap of $1.42 billion, a PE ratio of 15.57 and a beta of 1.57. Monarch Casino & Resort, Inc. has a 52-week low of $64.58 and a 52-week high of $96.11. The business has a 50-day moving average price of $81.68 and a 200 day moving average price of $81.97.
Monarch Casino & Resort (NASDAQ:MCRI – Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. The business had revenue of $125.39 million during the quarter, compared to the consensus estimate of $122.70 million. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. Sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.
Monarch Casino & Resort Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be paid a $0.30 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 1.56%. Monarch Casino & Resort’s dividend payout ratio is presently 24.24%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Jefferies Financial Group raised their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Wells Fargo & Company upped their price objective on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 12th. Stifel Nicolaus cut their target price on Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Macquarie reaffirmed a “neutral” rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $88.60.
Read Our Latest Analysis on MCRI
About Monarch Casino & Resort
Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.
Further Reading
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