Orvieto Partners L.P. Makes New $4.99 Million Investment in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Orvieto Partners L.P. bought a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 63,292 shares of the company's stock, valued at approximately $4,994,000. Monarch Casino & Resort comprises about 4.2% of Orvieto Partners L.P.'s portfolio, making the stock its 8th biggest holding. Orvieto Partners L.P. owned approximately 0.34% of Monarch Casino & Resort as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. acquired a new position in Monarch Casino & Resort in the 4th quarter valued at $19,346,000. Price T Rowe Associates Inc. MD grew its holdings in Monarch Casino & Resort by 28.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,075 shares of the company's stock valued at $2,848,000 after buying an additional 7,933 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Monarch Casino & Resort in the 4th quarter worth $325,000. State of Tennessee Department of Treasury increased its stake in shares of Monarch Casino & Resort by 3.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 12,223 shares of the company's stock worth $964,000 after acquiring an additional 361 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Monarch Casino & Resort in the 4th quarter worth $452,000. Hedge funds and other institutional investors own 62.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCRI. StockNews.com downgraded Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Truist Financial cut their price objective on Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus cut their price objective on Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company lifted their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a "hold" rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Monarch Casino & Resort has a consensus rating of "Hold" and a consensus price target of $88.60.

Monarch Casino & Resort Stock Performance

Shares of MCRI traded up $0.69 during midday trading on Tuesday, hitting $77.91. The company had a trading volume of 26,774 shares, compared to its average volume of 109,503. The company's 50-day simple moving average is $81.11 and its 200-day simple moving average is $82.07. The firm has a market capitalization of $1.44 billion, a P/E ratio of 15.74 and a beta of 1.57. Monarch Casino & Resort, Inc. has a 1 year low of $64.58 and a 1 year high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.01. The firm had revenue of $125.39 million during the quarter, compared to analysts' expectations of $122.70 million. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. Equities analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 1.54%. Monarch Casino & Resort's dividend payout ratio (DPR) is 23.67%.

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.