Intech Investment Management LLC Sells 2,310 Shares of Monarch Casino & Resort, Inc. $MCRI

Intech Investment Management LLC trimmed its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 25.9% in the second quarter, Holdings Channel.com reports. The fund owned 6,595 shares of the company’s stock after selling 2,310 shares during the quarter. Intech Investment Management LLC’s holdings in Monarch Casino & Resort were worth $570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new position in shares of Monarch Casino & Resort in the 1st quarter worth approximately $319,000. Jane Street Group LLC boosted its stake in Monarch Casino & Resort by 12.2% in the 1st quarter. Jane Street Group LLC now owns 156,346 shares of the company’s stock valued at $12,156,000 after buying an additional 17,027 shares in the last quarter. Raymond James Financial Inc. grew its position in Monarch Casino & Resort by 9.2% in the first quarter. Raymond James Financial Inc. now owns 84,655 shares of the company’s stock valued at $6,582,000 after acquiring an additional 7,115 shares during the period. Natixis Advisors LLC acquired a new position in Monarch Casino & Resort during the first quarter worth $803,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Monarch Casino & Resort by 53.4% during the first quarter. Victory Capital Management Inc. now owns 11,752 shares of the company’s stock valued at $914,000 after acquiring an additional 4,091 shares during the period. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

MCRI opened at $96.58 on Friday. The stock has a market capitalization of $1.76 billion, a P/E ratio of 17.43 and a beta of 1.48. The company’s 50 day simple moving average is $96.65 and its 200-day simple moving average is $94.82. Monarch Casino & Resort, Inc. has a one year low of $69.99 and a one year high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.06. The firm had revenue of $142.81 million for the quarter, compared to the consensus estimate of $145.54 million. Monarch Casino & Resort had a return on equity of 19.33% and a net margin of 19.26%. As a group, analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.30 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.20 annualized dividend and a yield of 1.2%. Monarch Casino & Resort’s dividend payout ratio (DPR) is currently 21.66%.

Wall Street Analyst Weigh In

MCRI has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Stifel Nicolaus lifted their target price on shares of Monarch Casino & Resort from $92.00 to $97.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company increased their price target on Monarch Casino & Resort from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. Wall Street Zen cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Monarch Casino & Resort in a research report on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $94.60.

Monarch Casino & Resort Company Profile

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.