First National Bank of Omaha Takes Position in Monarch Casino & Resort, Inc. $MCRI

First National Bank of Omaha acquired a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,114 shares of the company’s stock, valued at approximately $541,000.

A number of other institutional investors also recently modified their holdings of MCRI. Osaic Holdings Inc. boosted its stake in Monarch Casino & Resort by 210.0% during the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after acquiring an additional 315 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Monarch Casino & Resort in the fourth quarter valued at $40,000. Global Retirement Partners LLC bought a new stake in Monarch Casino & Resort in the second quarter valued at $57,000. Parallel Advisors LLC raised its holdings in shares of Monarch Casino & Resort by 191.3% during the first quarter. Parallel Advisors LLC now owns 1,136 shares of the company’s stock valued at $109,000 after purchasing an additional 746 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Monarch Casino & Resort by 69.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company’s stock valued at $110,000 after purchasing an additional 524 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 5,000 shares of Monarch Casino & Resort stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the transaction, the chief executive officer owned 616,556 shares in the company, valued at approximately $74,504,627.04. The trade was a 0.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 26.34% of the company’s stock.

Monarch Casino & Resort Trading Up 1.2%

MCRI opened at $124.81 on Thursday. Monarch Casino & Resort, Inc. has a 1-year low of $88.13 and a 1-year high of $135.93. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 20.00 and a beta of 1.31. The company’s fifty day moving average price is $125.61 and its two-hundred day moving average price is $112.27.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Monday, July 20th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $142.60 million during the quarter, compared to analysts’ expectations of $142.85 million. Monarch Casino & Resort had a net margin of 20.40% and a return on equity of 20.63%. Monarch Casino & Resort’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Monarch Casino & Resort, Inc. will post 6.98 earnings per share for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 1.0%. Monarch Casino & Resort’s dividend payout ratio (DPR) is presently 19.23%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group set a $124.00 target price on Monarch Casino & Resort in a research note on Thursday, July 2nd. Zacks Research downgraded Monarch Casino & Resort from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Stifel Nicolaus increased their price target on Monarch Casino & Resort from $102.00 to $128.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Truist Financial raised their price objective on Monarch Casino & Resort from $125.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Monarch Casino & Resort currently has an average rating of “Hold” and a consensus target price of $124.40.

About Monarch Casino & Resort

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.