7,300 Shares in Monarch Casino & Resort, Inc. $MCRI Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 7,300 shares of the company’s stock, valued at approximately $961,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its holdings in Monarch Casino & Resort by 210.0% in the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock valued at $40,000 after acquiring an additional 315 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Monarch Casino & Resort during the 4th quarter worth $40,000. Allworth Financial LP acquired a new stake in shares of Monarch Casino & Resort during the 2nd quarter worth $41,000. Global Retirement Partners LLC acquired a new stake in shares of Monarch Casino & Resort during the 2nd quarter worth $57,000. Finally, Globeflex Capital L P bought a new position in shares of Monarch Casino & Resort in the second quarter worth $97,000. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock opened at $120.45 on Tuesday. Monarch Casino & Resort, Inc. has a fifty-two week low of $88.13 and a fifty-two week high of $135.93. The stock’s fifty day moving average price is $124.79 and its two-hundred day moving average price is $113.86. The company has a market cap of $2.16 billion, a PE ratio of 19.30 and a beta of 1.31.

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

Monarch Casino & Resort Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid 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 19.23%.

Analyst Upgrades and Downgrades

MCRI has been the subject of a number of analyst reports. Truist Financial boosted their price target 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. Wall Street Zen downgraded shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Stifel Nicolaus raised their target price on shares of Monarch Casino & Resort from $102.00 to $128.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings restated a “buy (b)” rating on shares of Monarch Casino & Resort in a research report on Monday, August 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.