Monarch Casino & Resort, Inc. $MCRI Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,669 shares of the company’s stock after selling 4,324 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.38% of Monarch Casino & Resort worth $6,109,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in Monarch Casino & Resort by 1,700.8% during the first quarter. Bessemer Group Inc. now owns 2,125 shares of the company’s stock valued at $165,000 after buying an additional 2,007 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Monarch Casino & Resort by 3.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company’s stock worth $526,000 after acquiring an additional 254 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Monarch Casino & Resort by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 68,861 shares of the company’s stock worth $5,354,000 after acquiring an additional 1,695 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Monarch Casino & Resort by 0.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 42,637 shares of the company’s stock worth $3,315,000 after acquiring an additional 353 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Monarch Casino & Resort by 72.6% during the 1st quarter. TD Private Client Wealth LLC now owns 378 shares of the company’s stock worth $29,000 after acquiring an additional 159 shares in the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Monarch Casino & Resort from $92.00 to $97.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Zacks Research cut Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Wells Fargo & Company lifted their price target on shares of Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Truist Financial lifted their price target 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. Finally, Wall Street Zen raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Monarch Casino & Resort currently has a consensus rating of “Hold” and an average target price of $94.60.

Monarch Casino & Resort Price Performance

Shares of NASDAQ:MCRI opened at $89.70 on Friday. The business’s 50 day moving average price is $100.33 and its 200-day moving average price is $92.34. The firm has a market capitalization of $1.64 billion, a PE ratio of 16.19 and a beta of 1.49. Monarch Casino & Resort, Inc. has a 1 year low of $69.99 and a 1 year high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.06. The company had revenue of $142.81 million for the quarter, compared to analyst estimates of $145.54 million. Monarch Casino & Resort had a return on equity of 19.33% and a net margin of 19.26%. As a group, analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, December 1st. Monarch Casino & Resort’s dividend payout ratio is 21.66%.

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.