Y Intercept Hong Kong Ltd Acquires 10,186 Shares of Monarch Casino & Resort, Inc. $MCRI

Key Points

• Y Intercept Hong Kong Ltd boosted its stake in Monarch Casino & Resort by 56.7% in the first quarter, buying 10,186 additional shares and bringing its total to 28,154 shares worth about $2.69 million.
• Monarch Casino & Resort posted better-than-expected quarterly results, with EPS of $1.52 versus the $1.15 estimate and revenue of $136.55 million, up 8.9% year over year.
• Wall Street remains mixed on the stock: the consensus rating is Hold with a consensus price target of $112.40, even as some analysts raised targets and the company continued paying a quarterly dividend of $0.30 per share.

Y Intercept Hong Kong Ltd increased its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 56.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 28,154 shares of the company's stock after buying an additional 10,186 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.16% of Monarch Casino & Resort worth $2,692,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new position in Monarch Casino & Resort during the fourth quarter valued at $7,244,000. UBS Group AG raised its stake in shares of Monarch Casino & Resort by 26.9% in the fourth quarter. UBS Group AG now owns 46,451 shares of the company's stock valued at $4,445,000 after buying an additional 9,855 shares during the period. ArrowMark Colorado Holdings LLC purchased a new position in shares of Monarch Casino & Resort during the 3rd quarter valued at $2,214,000. AlphaQuest LLC lifted its position in shares of Monarch Casino & Resort by 303.4% during the 4th quarter. AlphaQuest LLC now owns 21,701 shares of the company's stock valued at $2,077,000 after buying an additional 16,321 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Monarch Casino & Resort by 23.3% during the 4th quarter. Teacher Retirement System of Texas now owns 80,020 shares of the company's stock worth $7,658,000 after acquiring an additional 15,110 shares during the period. Hedge funds and other institutional investors own 62.37% of the company's stock.

Wall Street Analyst Weigh In

MCRI has been the subject of several recent research reports. Zacks Research lowered Monarch Casino & Resort from a "strong-buy" rating to a "hold" rating in a report on Monday, June 22nd. Stifel Nicolaus increased their target price on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a "hold" rating in a research report on Wednesday, April 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Monarch Casino & Resort in a research note on Wednesday, May 27th. Jefferies Financial Group reissued a "hold" rating on shares of Monarch Casino & Resort in a research report on Thursday, July 2nd. Finally, Truist Financial upped their price target 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. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Monarch Casino & Resort has a consensus rating of "Hold" and a consensus target price of $112.40.

Monarch Casino & Resort Trading Down 0.3%

Monarch Casino & Resort stock opened at $126.80 on Wednesday. The firm's 50 day simple moving average is $123.17 and its 200 day simple moving average is $105.91. The firm has a market capitalization of $2.25 billion, a PE ratio of 21.49 and a beta of 1.29. Monarch Casino & Resort, Inc. has a 1-year low of $85.66 and a 1-year high of $135.93.

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

Monarch Casino & Resort Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.20 annualized dividend and a yield of 0.9%. Monarch Casino & Resort's dividend payout ratio (DPR) is currently 20.34%.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 5,000 shares of the company's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.84, for a total value of $604,200.00. Following the transaction, the chief executive officer directly owned 616,556 shares in the company, valued at $74,504,627.04. This represents a 0.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.34% of the stock is currently owned by insiders.

Monarch Casino & Resort Company 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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