Monarch Casino & Resort, Inc. $MCRI Shares Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. boosted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,500 shares of the company’s stock after buying an additional 4,800 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.45% of Monarch Casino & Resort worth $7,696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Osaic Holdings Inc. grew its position in shares of Monarch Casino & Resort by 210.0% in the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after acquiring an additional 315 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Monarch Casino & Resort in the 4th quarter valued at approximately $40,000. GAMMA Investing LLC raised its position in shares of Monarch Casino & Resort by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock valued at $94,000 after acquiring an additional 106 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Monarch Casino & Resort by 69.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company’s stock valued at $110,000 after acquiring an additional 524 shares in the last quarter. Finally, Evergreen Capital Management LLC bought a new position in Monarch Casino & Resort during the fourth quarter worth $209,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MCRI. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monarch Casino & Resort in a report on Wednesday, May 27th. Jefferies Financial Group reissued a “hold” rating on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Stifel Nicolaus raised their price target on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. UBS Group set a $124.00 price target on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Finally, Truist Financial boosted their price objective on shares of Monarch Casino & Resort from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $112.40.

Monarch Casino & Resort Trading Up 0.3%

Shares of NASDAQ MCRI opened at $124.19 on Tuesday. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 21.05 and a beta of 1.29. The stock’s 50 day simple moving average is $123.69 and its 200 day simple moving average is $106.62. Monarch Casino & Resort, Inc. has a 12-month low of $85.66 and a 12-month high of $135.93.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Tuesday, April 21st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.37. The firm had revenue of $136.55 million for the quarter, compared to analyst estimates of $128.49 million. Monarch Casino & Resort had a return on equity of 19.98% and a net margin of 19.62%.Monarch Casino & Resort’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts forecast that Monarch Casino & Resort, Inc. will post 7.07 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.30 per share. The ex-dividend date was Monday, June 1st. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. Monarch Casino & Resort’s dividend payout ratio is currently 20.34%.

Insider Activity at Monarch Casino & Resort

In related news, CEO John Farahi sold 5,000 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.84, for a total value of $604,200.00. Following the sale, the chief executive officer owned 616,556 shares of the company’s stock, valued at $74,504,627.04. This trade represents a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 26.34% of the company’s stock.

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.