Monarch Casino & Resort’s (MCRI) Neutral Rating Reaffirmed at Macquarie

Macquarie reaffirmed their neutral rating on shares of Monarch Casino & Resort (NASDAQ:MCRI) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $76.00 price target on the stock.

Separately, Truist Financial raised their target price on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the company a hold rating in a research report on Thursday.

Monarch Casino & Resort Stock Up 11.3 %

Shares of MCRI stock opened at $76.52 on Thursday. The firm has a fifty day moving average of $67.70 and a 200-day moving average of $68.90. Monarch Casino & Resort has a 12-month low of $56.25 and a 12-month high of $77.50. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 18.09 and a beta of 1.74.

Monarch Casino & Resort Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, August 30th. Monarch Casino & Resort’s dividend payout ratio (DPR) is currently 28.37%.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $68.00, for a total value of $136,000.00. Following the completion of the sale, the chief executive officer now owns 525,310 shares in the company, valued at $35,721,080. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 24.94% of the stock is owned by insiders.

Institutional Trading of Monarch Casino & Resort

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in Monarch Casino & Resort by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company’s stock valued at $12,177,000 after purchasing an additional 1,400 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in shares of Monarch Casino & Resort by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 276,426 shares of the company’s stock worth $18,833,000 after buying an additional 827 shares during the period. SG Americas Securities LLC acquired a new position in Monarch Casino & Resort in the 2nd quarter valued at about $751,000. Annex Advisory Services LLC grew its stake in Monarch Casino & Resort by 12.0% in the 2nd quarter. Annex Advisory Services LLC now owns 15,768 shares of the company’s stock valued at $1,074,000 after buying an additional 1,690 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in Monarch Casino & Resort in the 2nd quarter valued at about $3,307,000. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.