Landscape Capital Management L.L.C. Takes Position in Monarch Casino & Resort, Inc. $MCRI

Key Points

• Landscape Capital Management initiated a position in Monarch Casino & Resort, buying 15,717 shares worth approximately $2.07 million, while institutional investors collectively own 62.37% of the company.
• Monarch reported quarterly EPS of $1.78, beating analyst expectations of $1.68, while revenue rose 4.2% year over year to $142.6 million. The company also declared a quarterly dividend of $0.30 per share, equal to a 1.0% annualized yield.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $124.40, below the stock’s reported $126.09 trading price.

Landscape Capital Management L.L.C. bought a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,717 shares of the company's stock, valued at approximately $2,069,000. Landscape Capital Management L.L.C. owned about 0.09% of Monarch Casino & Resort as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP bought a new position in shares of Monarch Casino & Resort in the second quarter valued at approximately $41,000. Kestra Advisory Services LLC bought a new stake in shares of Monarch Casino & Resort during the 4th quarter worth $40,000. Global Retirement Partners LLC bought a new stake in shares of Monarch Casino & Resort during the 2nd quarter worth $57,000. Osaic Holdings Inc. boosted its holdings in shares of Monarch Casino & Resort by 210.0% during the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company's stock worth $40,000 after buying an additional 315 shares during the period. Finally, Parallel Advisors LLC grew its stake in Monarch Casino & Resort by 191.3% in the 1st quarter. Parallel Advisors LLC now owns 1,136 shares of the company's stock valued at $109,000 after buying an additional 746 shares during the last quarter. Institutional investors own 62.37% of the company's stock.

Insider Activity

In other news, CEO John Farahi sold 5,000 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the transaction, the chief executive officer owned 616,556 shares in the company, valued at approximately $74,504,627.04. The trade was a 0.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 26.34% of the company's stock.

Monarch Casino & Resort Trading Up 0.4%

MCRI opened at $126.09 on Friday. The business has a 50 day moving average of $125.51 and a 200-day moving average of $112.60. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 20.21 and a beta of 1.31. 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 announced its earnings results on Monday, July 20th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.10. The business had revenue of $142.60 million for the quarter, compared to analyst estimates of $142.85 million. Monarch Casino & Resort had a net margin of 20.40% and a return on equity of 20.63%. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts predict that Monarch Casino & Resort, Inc. will post 6.98 EPS for the current year.

Monarch Casino & Resort Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MCRI shares. Stifel Nicolaus lifted their target price on shares of Monarch Casino & Resort from $102.00 to $128.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Zacks Research cut shares of Monarch Casino & Resort from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 22nd. UBS Group set a $124.00 price target on Monarch Casino & Resort in a research report on Thursday, July 2nd. Wall Street Zen lowered Monarch Casino & Resort from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Wells Fargo & Company dropped their price objective on Monarch Casino & Resort from $116.00 to $114.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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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