Pacer Advisors Inc. Purchases 48,368 Shares of Monarch Casino & Resort, Inc. $MCRI

Pacer Advisors Inc. boosted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 2,489.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 50,311 shares of the company’s stock after buying an additional 48,368 shares during the period. Pacer Advisors Inc.’s holdings in Monarch Casino & Resort were worth $4,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd lifted its holdings in shares of Monarch Casino & Resort by 77.1% during the third quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company’s stock worth $19,951,000 after buying an additional 82,035 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Monarch Casino & Resort in the fourth quarter valued at about $7,244,000. Arrowstreet Capital Limited Partnership increased its position in Monarch Casino & Resort by 64.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company’s stock worth $18,943,000 after acquiring an additional 70,185 shares during the period. Clark Capital Management Group Inc. bought a new position in Monarch Casino & Resort during the third quarter worth about $6,192,000. Finally, Invesco Ltd. raised its stake in Monarch Casino & Resort by 38.2% in the 4th quarter. Invesco Ltd. now owns 194,371 shares of the company’s stock worth $18,601,000 after purchasing an additional 53,745 shares in the last quarter. Institutional investors own 62.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on MCRI shares. Stifel Nicolaus boosted their price objective on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Truist Financial raised their target price on shares of Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Monarch Casino & Resort in a research report on Wednesday, May 27th. Wells Fargo & Company increased their price target on Monarch Casino & Resort from $97.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Monarch Casino & Resort presently has an average rating of “Moderate Buy” and a consensus price target of $109.50.

Insider Activity

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 sale, the chief executive officer owned 616,556 shares in the company, valued at approximately $74,504,627.04. This trade represents a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 26.34% of the company’s stock.

Monarch Casino & Resort Stock Down 0.9%

MCRI stock opened at $129.46 on Tuesday. Monarch Casino & Resort, Inc. has a 52 week low of $84.23 and a 52 week high of $134.31. The business has a 50-day simple moving average of $117.22 and a 200 day simple moving average of $103.38. The company has a market cap of $2.30 billion, a PE ratio of 21.94 and a beta of 1.30.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $136.55 million for the quarter, compared to the consensus estimate of $128.49 million. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, analysts anticipate that Monarch Casino & Resort, Inc. will post 7.07 EPS 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. Investors 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 0.9%. Monarch Casino & Resort’s dividend payout ratio (DPR) is currently 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.