Deutsche Bank AG Purchases Shares of 12,991 Monarch Casino & Resort, Inc. $MCRI

Key Points

• Deutsche Bank acquired 12,991 shares of Monarch Casino & Resort during the second quarter, worth approximately $1.71 million; institutional investors collectively own 62.37% of the company.
• Monarch reported quarterly EPS of $1.78, beating estimates by $0.10, while revenue rose 4.2% year over year to $142.6 million. The company declared a quarterly dividend of $0.30 per share, yielding about 1.0% annually.
• Analysts maintain a consensus “Hold” rating, with an average price target of $124.40, near the stock’s reported price of $122.57.

Deutsche Bank AG bought a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,991 shares of the company's stock, valued at approximately $1,710,000. Deutsche Bank AG owned approximately 0.07% of Monarch Casino & Resort as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of MCRI. Kestra Advisory Services LLC purchased a new position in shares of Monarch Casino & Resort in the fourth quarter valued at about $40,000. Global Retirement Partners LLC purchased a new stake in shares of Monarch Casino & Resort during the second quarter worth about $57,000. Osaic Holdings Inc. raised its stake in Monarch Casino & Resort by 210.0% during the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company's stock valued at $40,000 after purchasing an additional 315 shares during the period. Parallel Advisors LLC lifted its holdings in Monarch Casino & Resort by 191.3% in the 1st quarter. Parallel Advisors LLC now owns 1,136 shares of the company's stock worth $109,000 after purchasing an additional 746 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Monarch Casino & Resort by 69.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company's stock worth $110,000 after purchasing an additional 524 shares during the period. Institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI opened at $122.57 on Friday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 19.64 and a beta of 1.31. The business has a 50 day simple moving average of $124.97 and a 200-day simple moving average of $113.62. Monarch Casino & Resort, Inc. has a 1 year low of $88.13 and a 1 year high of $135.93.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its earnings results on Monday, July 20th. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. Monarch Casino & Resort had a return on equity of 20.63% and a net margin of 20.40%.The firm had revenue of $142.60 million for the quarter, compared to the consensus estimate of $142.85 million. The business's quarterly revenue was up 4.2% on a year-over-year basis. As a group, analysts expect that Monarch Casino & Resort, Inc. will post 6.98 earnings per share for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 1st. Monarch Casino & Resort's dividend payout ratio (DPR) is 19.23%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MCRI shares. Jefferies Financial Group reissued a "hold" rating on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of Monarch Casino & Resort in a report on Monday. UBS Group set a $124.00 target price on Monarch Casino & Resort in a report on Thursday, July 2nd. Wells Fargo & Company cut their price target on Monarch Casino & Resort from $116.00 to $114.00 and set an "equal weight" rating for the company in a report on Tuesday, July 21st. Finally, Wall Street Zen downgraded Monarch Casino & Resort from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $124.40.

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.

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