Monarch Casino & Resort, Inc. $MCRI Stock Holdings Increased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 6.3% in the first quarter, HoldingsChannel reports. The fund owned 80,500 shares of the company’s stock after buying an additional 4,800 shares during the period. Hillsdale Investment Management Inc.’s holdings in Monarch Casino & Resort were worth $7,696,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Fifth Third Bancorp lifted its holdings in Monarch Casino & Resort by 2,702.1% in the first quarter. Fifth Third Bancorp now owns 2,634 shares of the company’s stock worth $252,000 after purchasing an additional 2,540 shares during the period. Hsbc Holdings PLC grew its position in Monarch Casino & Resort by 20.0% in the 1st quarter. Hsbc Holdings PLC now owns 7,521 shares of the company’s stock valued at $723,000 after buying an additional 1,252 shares in the last quarter. AdvisorShares Investments LLC increased its stake in Monarch Casino & Resort by 4.5% during the 1st quarter. AdvisorShares Investments LLC now owns 9,771 shares of the company’s stock valued at $934,000 after buying an additional 422 shares during the period. Y Intercept Hong Kong Ltd increased its stake in Monarch Casino & Resort by 56.7% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 28,154 shares of the company’s stock valued at $2,692,000 after buying an additional 10,186 shares during the period. Finally, GHP Investment Advisors Inc. increased its stake in Monarch Casino & Resort by 12.4% during the 1st quarter. GHP Investment Advisors Inc. now owns 19,604 shares of the company’s stock valued at $1,874,000 after buying an additional 2,164 shares during the period. Institutional investors own 62.37% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MCRI. UBS Group set a $124.00 price target on shares of Monarch Casino & Resort in a research note on Thursday, July 2nd. Zacks Research lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. Jefferies Financial Group restated a “hold” rating on shares of Monarch Casino & Resort in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company increased their price target on Monarch Casino & Resort from $97.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $112.40.

Insider Buying and Selling

In related news, CEO John Farahi sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the sale, the chief executive officer directly owned 616,556 shares of the company’s stock, valued at $74,504,627.04. This represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.34% of the stock is currently owned by corporate insiders.

Monarch Casino & Resort Trading Up 0.3%

Shares of Monarch Casino & Resort stock opened at $124.19 on Tuesday. The company’s 50-day moving average price is $123.69 and its two-hundred day moving average price is $106.62. Monarch Casino & Resort, Inc. has a 52 week low of $85.66 and a 52 week high of $135.93. The stock has a market cap of $2.20 billion, a PE ratio of 21.05 and a beta of 1.29.

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

Monarch Casino & Resort Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, June 1st. Monarch Casino & Resort’s payout ratio is presently 20.34%.

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.