Monarch Casino & Resort, Inc. $MCRI Shares Acquired by UBS Group AG

Key Points

• UBS Group AG increased its stake in Monarch Casino & Resort by 26.9% in the fourth quarter, buying 9,855 additional shares and bringing its total holding to 46,451 shares worth about $4.45 million.
• The company reported strong quarterly results, with EPS of $1.52 beating estimates and revenue of $136.55 million topping expectations; revenue also rose 8.9% year over year.
• Monarch Casino & Resort announced a quarterly dividend of $0.30 per share, and analysts currently rate the stock a consensus Moderate Buy with a target price of $109.50.

UBS Group AG increased its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 26.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 46,451 shares of the company's stock after buying an additional 9,855 shares during the period. UBS Group AG owned about 0.25% of Monarch Casino & Resort worth $4,445,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Monarch Casino & Resort by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 984 shares of the company's stock valued at $94,000 after buying an additional 106 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in shares of Monarch Casino & Resort by 2.2% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 6,703 shares of the company's stock valued at $709,000 after buying an additional 142 shares during the period. Mariner LLC boosted its holdings in shares of Monarch Casino & Resort by 6.5% in the 3rd quarter. Mariner LLC now owns 2,493 shares of the company's stock valued at $264,000 after buying an additional 152 shares during the period. Vident Advisory LLC boosted its holdings in shares of Monarch Casino & Resort by 3.5% in the 2nd quarter. Vident Advisory LLC now owns 5,566 shares of the company's stock valued at $481,000 after buying an additional 186 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Monarch Casino & Resort by 1.2% in the 3rd quarter. Swiss National Bank now owns 25,011 shares of the company's stock valued at $2,647,000 after buying an additional 300 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the business's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $99.00, for a total transaction of $198,000.00. Following the sale, the chief executive officer directly owned 536,304 shares in the company, valued at approximately $53,094,096. The trade was a 0.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 26.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on MCRI. Zacks Research raised shares of Monarch Casino & Resort from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. Wells Fargo & Company lifted their price target on shares of Monarch Casino & Resort from $97.00 to $99.00 and gave the company an "equal weight" rating in a report on Wednesday, April 22nd. Stifel Nicolaus boosted their target price on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the company a "hold" rating in a research note on Wednesday, April 22nd. Wall Street Zen raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Saturday, April 25th. Finally, Truist Financial boosted their target price on shares of Monarch Casino & Resort from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Monarch Casino & Resort presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.50.

Monarch Casino & Resort Stock Up 0.5%

Monarch Casino & Resort stock opened at $116.81 on Friday. The firm has a 50-day moving average price of $106.02 and a two-hundred day moving average price of $99.01. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 19.80 and a beta of 1.32. Monarch Casino & Resort, Inc. has a 52-week low of $80.39 and a 52-week high of $121.38.

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

Monarch Casino & Resort Announces Dividend

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

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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