Epoch Investment Partners Inc. Has $290,000 Position in Monarch Casino & Resort, Inc. $MCRI

Key Points

• Epoch Investment Partners cut its Monarch Casino & Resort stake by 85.2% in the first quarter, leaving 3,035 shares valued at approximately $290,000. Institutional investors collectively own 62.37% of MCRI.
• Monarch reported quarterly EPS of $1.78, exceeding estimates of $1.68, while revenue rose 4.2% year over year to $142.6 million. The company also declared a $0.30 quarterly dividend, yielding about 1.0% annually.
• CEO John Farahi sold 5,000 shares for roughly $604,200, though insiders still own 26.34% of the company. Analysts maintain a consensus “Hold” rating with an average price target of $124.40.

Epoch Investment Partners Inc. lessened its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 85.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,035 shares of the company's stock after selling 17,479 shares during the period. Epoch Investment Partners Inc.'s holdings in Monarch Casino & Resort were worth $290,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in shares of Monarch Casino & Resort by 36.0% in the first quarter. AQR Capital Management LLC now owns 57,731 shares of the company's stock worth $4,489,000 after acquiring an additional 15,295 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Monarch Casino & Resort by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,618 shares of the company's stock valued at $592,000 after purchasing an additional 316 shares during the period. Creative Planning acquired a new stake in Monarch Casino & Resort in the 2nd quarter worth $283,000. Quantbot Technologies LP bought a new position in shares of Monarch Casino & Resort during the 2nd quarter worth about $431,000. Finally, First Trust Advisors LP increased its holdings in shares of Monarch Casino & Resort by 9.5% during the 2nd quarter. First Trust Advisors LP now owns 41,109 shares of the company's stock worth $3,553,000 after purchasing an additional 3,574 shares during the period. Institutional investors own 62.37% of the company's stock.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.84, for a total value 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. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 26.34% of the stock is currently owned by company insiders.

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI opened at $119.54 on Monday. The stock has a market capitalization of $2.12 billion, a P/E ratio of 19.16 and a beta of 1.29. Monarch Casino & Resort, Inc. has a 1 year low of $88.13 and a 1 year high of $135.93. The firm has a 50 day moving average of $124.56 and a 200-day moving average of $108.24.

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

Monarch Casino & Resort Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given 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 is Tuesday, September 1st. Monarch Casino & Resort's payout ratio is presently 19.23%.

Wall Street Analysts Forecast Growth

MCRI has been the topic of several research reports. Stifel Nicolaus boosted their price target on Monarch Casino & Resort from $102.00 to $128.00 and gave the company a "hold" rating in a research note on Tuesday, July 21st. 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. Wells Fargo & Company cut their target price on Monarch Casino & Resort from $116.00 to $114.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 21st. Finally, UBS Group set a $124.00 target price on Monarch Casino & Resort in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $124.40.

About Monarch Casino & Resort

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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