Craig F. Sullivan Sells 12,200 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) Director Craig F. Sullivan sold 12,200 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $105.55, for a total transaction of $1,287,710.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Monarch Casino & Resort Stock Down 1.0%

Shares of NASDAQ:MCRI traded down $1.08 during mid-day trading on Friday, reaching $104.34. 208,321 shares of the stock were exchanged, compared to its average volume of 167,312. The stock's 50 day simple moving average is $88.19 and its 200-day simple moving average is $84.47. Monarch Casino & Resort, Inc. has a one year low of $69.99 and a one year high of $113.88. The company has a market cap of $1.93 billion, a P/E ratio of 19.61 and a beta of 1.54.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.22. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%. The firm had revenue of $136.91 million for the quarter, compared to analyst estimates of $129.76 million. Analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be given a $0.30 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.20 annualized dividend and a yield of 1.15%. Monarch Casino & Resort's dividend payout ratio is presently 22.56%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Monarch Casino & Resort during the 4th quarter worth $6,118,000. American Century Companies Inc. increased its stake in shares of Monarch Casino & Resort by 9.3% in the fourth quarter. American Century Companies Inc. now owns 404,073 shares of the company's stock worth $31,881,000 after purchasing an additional 34,384 shares in the last quarter. Sei Investments Co. raised its position in shares of Monarch Casino & Resort by 13.9% in the fourth quarter. Sei Investments Co. now owns 21,837 shares of the company's stock valued at $1,723,000 after purchasing an additional 2,664 shares during the period. LPL Financial LLC lifted its stake in shares of Monarch Casino & Resort by 47.0% during the 4th quarter. LPL Financial LLC now owns 6,737 shares of the company's stock valued at $532,000 after buying an additional 2,155 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Monarch Casino & Resort by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company's stock worth $79,193,000 after buying an additional 9,234 shares during the period. Institutional investors own 62.37% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Stifel Nicolaus raised their target price on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Wells Fargo & Company raised shares of Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $83.00 to $89.00 in a research report on Thursday, July 17th. Macquarie reiterated a "neutral" rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Finally, Truist Financial boosted their price objective on shares of Monarch Casino & Resort from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $93.20.

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.