Los Angeles Capital Management LLC Purchases Shares of 3,032 Monarch Casino & Resort, Inc. $MCRI

Los Angeles Capital Management LLC acquired a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 3,032 shares of the company’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC lifted its stake in Monarch Casino & Resort by 51.2% during the second quarter. Parallel Advisors LLC now owns 384 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares during the last quarter. Vestcor Inc bought a new position in shares of Monarch Casino & Resort in the first quarter valued at $58,000. GAMMA Investing LLC lifted its position in shares of Monarch Casino & Resort by 28.7% during the 2nd quarter. GAMMA Investing LLC now owns 839 shares of the company’s stock valued at $73,000 after acquiring an additional 187 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Monarch Casino & Resort by 45.3% in the 1st quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company’s stock valued at $89,000 after purchasing an additional 355 shares during the period. Finally, CWM LLC grew its holdings in shares of Monarch Casino & Resort by 264.7% during the first quarter. CWM LLC now owns 1,827 shares of the company’s stock valued at $142,000 after buying an additional 1,326 shares in the last quarter. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Stock Down 0.7%

Shares of NASDAQ:MCRI opened at $95.59 on Monday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 17.25 and a beta of 1.48. The business has a 50 day moving average price of $97.94 and a 200 day moving average price of $93.87. Monarch Casino & Resort, Inc. has a twelve month low of $69.99 and a twelve month high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.06. The company had revenue of $142.81 million during 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%. Analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on MCRI shares. Wall Street Zen downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research cut Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Monarch Casino & Resort in a report on Tuesday, November 11th. Wells Fargo & Company boosted their price objective on shares of Monarch Casino & Resort from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 22nd. Finally, Stifel Nicolaus upped their price objective on shares of Monarch Casino & Resort from $92.00 to $97.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $94.60.

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.