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LPL Financial LLC grew its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Free Report) by 47.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,737 shares of the company’s stock after buying an additional 2,155 shares during the period. LPL Financial LLC’s holdings in Monarch Casino & Resort were worth $532,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Monarch Casino & Resort by 108.2% in the 3rd quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after acquiring an additional 17,413 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in Monarch Casino & Resort in the 4th quarter worth $1,516,000. Ritholtz Wealth Management bought a new stake in Monarch Casino & Resort in the fourth quarter worth $254,000. Franklin Resources Inc. boosted its position in Monarch Casino & Resort by 7.3% during the third quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock valued at $665,000 after buying an additional 597 shares during the period. Finally, AlphaQuest LLC bought a new position in shares of Monarch Casino & Resort during the fourth quarter valued at about $689,000. 62.37% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on MCRI shares. Wells Fargo & Company raised their price target 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. Macquarie reiterated a “neutral” rating and set a $92.00 price target on shares of Monarch Casino & Resort in a report on Wednesday. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus lowered their price objective on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Truist Financial dropped their target price on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. One 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $88.60.
Get Our Latest Stock Analysis on Monarch Casino & Resort
Monarch Casino & Resort Trading Down 1.0 %
Shares of Monarch Casino & Resort stock opened at $77.06 on Friday. Monarch Casino & Resort, Inc. has a 12-month low of $64.58 and a 12-month high of $96.11. The company has a market cap of $1.42 billion, a P/E ratio of 15.57 and a beta of 1.57. The company’s fifty day simple moving average is $81.68 and its two-hundred day simple moving average is $81.97.
Monarch Casino & Resort (NASDAQ:MCRI – Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.01. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. The company had revenue of $125.39 million for the quarter, compared to analysts’ expectations of $122.70 million. Analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.
Monarch Casino & Resort Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Friday, May 30th. Monarch Casino & Resort’s dividend payout ratio is currently 24.24%.
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
Want to see what other hedge funds are holding MCRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Free Report).
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