Legal & General Group Plc Makes New $3.47 Million Investment in Monarch Casino & Resort, Inc. $MCRI

Legal & General Group Plc acquired a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 26,345 shares of the company's stock, valued at approximately $3,467,000. Legal & General Group Plc owned 0.15% of Monarch Casino & Resort as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in MCRI. BlackRock Inc. bought a new position in shares of Monarch Casino & Resort in the second quarter worth $270,679,000. Bank of New York Mellon Corp purchased a new position in Monarch Casino & Resort during the second quarter worth about $16,778,000. Qube Research & Technologies Ltd increased its stake in Monarch Casino & Resort by 77.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company's stock worth $19,951,000 after acquiring an additional 82,035 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Monarch Casino & Resort in the 4th quarter valued at about $7,244,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Monarch Casino & Resort by 64.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company's stock valued at $18,943,000 after acquiring an additional 70,185 shares during the last quarter. Institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock opened at $121.52 on Friday. Monarch Casino & Resort, Inc. has a one year low of $88.13 and a one year high of $135.93. The business's 50 day simple moving average is $123.89 and its two-hundred day simple moving average is $114.43. The stock has a market capitalization of $2.18 billion, a P/E ratio of 19.47 and a beta of 1.31.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its earnings results on Monday, July 20th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $142.60 million for the quarter, compared to analysts' expectations of $142.85 million. Monarch Casino & Resort had a net margin of 20.40% and a return on equity of 20.63%. The business's quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side 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 firm 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 dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. Monarch Casino & Resort's dividend payout ratio is presently 19.23%.

Analysts Set New Price Targets

Several brokerages have issued reports on MCRI. Truist Financial lifted their target price on shares of Monarch Casino & Resort from $125.00 to $144.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Wells Fargo & Company cut their target price on shares of Monarch Casino & Resort from $116.00 to $114.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 21st. Stifel Nicolaus raised their price target on Monarch Casino & Resort from $102.00 to $128.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Weiss Ratings reiterated a "buy (b)" rating on shares of Monarch Casino & Resort in a report on Monday, August 24th. Finally, UBS Group set a $124.00 price objective on Monarch Casino & Resort in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.

Want to see what other hedge funds are holding MCRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source