Wakefield Asset Management LLLP Makes New $939,000 Investment in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Wakefield Asset Management LLLP bought a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,078 shares of the company's stock, valued at approximately $939,000. Wakefield Asset Management LLLP owned 0.07% of Monarch Casino & Resort as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MCRI. American Century Companies Inc. increased its holdings in Monarch Casino & Resort by 9.3% during the fourth quarter. American Century Companies Inc. now owns 404,073 shares of the company's stock valued at $31,881,000 after buying an additional 34,384 shares during the period. Sei Investments Co. increased its holdings in Monarch Casino & Resort by 13.9% during the fourth quarter. Sei Investments Co. now owns 21,837 shares of the company's stock valued at $1,723,000 after buying an additional 2,664 shares during the period. LPL Financial LLC increased its holdings in Monarch Casino & Resort by 47.0% during the fourth quarter. LPL Financial LLC now owns 6,737 shares of the company's stock valued at $532,000 after buying an additional 2,155 shares during the period. Vanguard Group Inc. increased its holdings in Monarch Casino & Resort by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company's stock valued at $79,193,000 after buying an additional 9,234 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in Monarch Casino & Resort by 202.0% during the fourth quarter. WINTON GROUP Ltd now owns 9,029 shares of the company's stock valued at $712,000 after buying an additional 6,039 shares during the period. 62.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MCRI shares. Wells Fargo & Company raised shares of Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $83.00 to $89.00 in a report on Thursday, July 17th. Stifel Nicolaus raised their target price on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Macquarie restated a "neutral" rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Wall Street Zen upgraded shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Finally, Truist Financial raised their target price on shares of Monarch Casino & Resort from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $93.20.

Monarch Casino & Resort Trading Down 1.0%

Shares of NASDAQ:MCRI traded down $1.08 on Friday, hitting $104.34. 208,321 shares of the company were exchanged, compared to its average volume of 114,201. Monarch Casino & Resort, Inc. has a 1-year low of $69.99 and a 1-year high of $113.88. The stock's 50 day moving average price is $87.76 and its 200 day moving average price is $84.26. The firm has a market capitalization of $1.93 billion, a P/E ratio of 19.61 and a beta of 1.54.

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

Monarch Casino & Resort Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a $0.30 dividend. 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 1.15%. Monarch Casino & Resort's payout ratio is 22.56%.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $105.78, for a total transaction of $211,560.00. Following the completion of the sale, the chief executive officer owned 560,110 shares of the company's stock, valued at $59,248,435.80. The trade was a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Craig F. Sullivan sold 12,200 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $105.55, for a total transaction of $1,287,710.00. The disclosure for this sale can be found here. 25.52% of the stock is owned by insiders.

Monarch Casino & Resort Company 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.