75,700 Shares in Monarch Casino & Resort, Inc. $MCRI Purchased by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management bought a new stake in Monarch Casino & Resort, purchasing 75,700 shares valued at about $7.24 million in the fourth quarter. The position represented roughly 0.41% of the company.
• Monarch Casino & Resort reported strong quarterly results, with EPS of $1.52 beating estimates of $1.15 and revenue of $136.55 million topping expectations. Revenue also rose 8.9% from a year earlier.
• The company declared a quarterly dividend of $0.30 per share, or $1.20 annualized, implying a 1.0% yield. Meanwhile, CEO John Farahi sold 5,000 shares, while analysts currently rate the stock a consensus Moderate Buy.

Hillsdale Investment Management Inc. purchased a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 75,700 shares of the company's stock, valued at approximately $7,244,000. Hillsdale Investment Management Inc. owned approximately 0.41% of Monarch Casino & Resort at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its position in Monarch Casino & Resort by 210.0% in the second 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. GAMMA Investing LLC grew its position in Monarch Casino & Resort by 12.1% in the fourth quarter. GAMMA Investing LLC now owns 984 shares of the company's stock worth $94,000 after acquiring an additional 106 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Monarch Casino & Resort by 69.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company's stock worth $110,000 after acquiring an additional 524 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in Monarch Casino & Resort in the fourth quarter worth about $209,000. Finally, PNC Financial Services Group Inc. grew its position in Monarch Casino & Resort by 34.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,429 shares of the company's stock worth $232,000 after acquiring an additional 616 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Price Performance

Shares of NASDAQ:MCRI opened at $120.26 on Friday. Monarch Casino & Resort, Inc. has a 1 year low of $82.15 and a 1 year high of $122.52. The business has a 50 day simple moving average of $108.10 and a two-hundred day simple moving average of $99.99. The firm has a market capitalization of $2.13 billion, a PE ratio of 20.38 and a beta of 1.32.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its earnings results on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.37. Monarch Casino & Resort had a return on equity of 19.98% and a net margin of 19.62%.The business had revenue of $136.55 million during the quarter, compared to analyst estimates of $128.49 million. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts expect that Monarch Casino & Resort, Inc. will post 7.07 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

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

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 5,000 shares of Monarch Casino & Resort 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 owned 616,556 shares of the company's stock, valued at approximately $74,504,627.04. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 8,000 shares of company stock worth $899,630 over the last ninety days. Insiders own 26.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCRI. Wells Fargo & Company lifted 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. Zacks Research upgraded Monarch Casino & Resort from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Stifel Nicolaus boosted their target price on Monarch Casino & Resort from $97.00 to $102.00 and gave the company a "hold" rating in a research report on Wednesday, April 22nd. Weiss Ratings restated a "buy (b)" rating on shares of Monarch Casino & Resort in a research report on Wednesday. Finally, Truist Financial boosted their target price on Monarch Casino & Resort from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.50.

Monarch Casino & Resort Company 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.

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