Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC decreased its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,267 shares of the company's stock after selling 9,569 shares during the period. Monarch Casino & Resort accounts for approximately 1.8% of Tributary Capital Management LLC's holdings, making the stock its 19th biggest holding. Tributary Capital Management LLC owned about 1.44% of Monarch Casino & Resort worth $20,625,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. LPL Financial LLC increased its position in shares of Monarch Casino & Resort by 47.0% during the 4th quarter. LPL Financial LLC now owns 6,737 shares of the company's stock worth $532,000 after purchasing an additional 2,155 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Monarch Casino & Resort by 3.9% in the first quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company's stock valued at $526,000 after buying an additional 254 shares during the period. GHP Investment Advisors Inc. boosted its stake in shares of Monarch Casino & Resort by 45.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 11,075 shares of the company's stock worth $861,000 after acquiring an additional 3,467 shares during the period. Golden State Wealth Management LLC raised its stake in Monarch Casino & Resort by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company's stock valued at $104,000 after acquiring an additional 666 shares during the period. Finally, Deutsche Bank AG boosted its position in Monarch Casino & Resort by 45.3% during the fourth quarter. Deutsche Bank AG now owns 11,160 shares of the company's stock worth $881,000 after purchasing an additional 3,477 shares during the period. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Stock Performance

Monarch Casino & Resort stock traded up $0.32 during trading hours on Friday, hitting $105.15. The company had a trading volume of 327,013 shares, compared to its average volume of 112,718. The firm has a market cap of $1.94 billion, a P/E ratio of 19.77 and a beta of 1.54. The company has a 50-day moving average price of $85.83 and a two-hundred day moving average price of $83.55. Monarch Casino & Resort, Inc. has a 1 year low of $67.14 and a 1 year high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.22. The firm had revenue of $136.91 million during the quarter, compared to the consensus estimate of $129.76 million. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%. As a group, equities research analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. Monarch Casino & Resort's dividend payout ratio (DPR) is presently 22.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MCRI shares. Macquarie reaffirmed a "neutral" rating and set a $92.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Truist Financial raised their price objective on shares of Monarch Casino & Resort from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday. Wall Street Zen raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Stifel Nicolaus upped their price target on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the company a "hold" rating in a research report on Thursday. Finally, Wells Fargo & Company raised shares of Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $83.00 to $89.00 in a research note on Thursday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Monarch Casino & Resort has a consensus rating of "Hold" and an average target price of $93.20.

Monarch Casino & Resort Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.