Louisiana State Employees Retirement System Trims Stock Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Louisiana State Employees Retirement System trimmed its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 6.1% in the third quarter, Holdings Channel reports. The institutional investor owned 6,200 shares of the company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Monarch Casino & Resort were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Texas Permanent School Fund Corp grew its stake in Monarch Casino & Resort by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 11,682 shares of the company’s stock valued at $876,000 after buying an additional 152 shares in the last quarter. Trust Point Inc. grew its stake in Monarch Casino & Resort by 1.5% in the 3rd quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock valued at $873,000 after buying an additional 162 shares in the last quarter. GAMMA Investing LLC grew its stake in Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after buying an additional 178 shares in the last quarter. Pitcairn Co. boosted its holdings in Monarch Casino & Resort by 4.3% in the 1st quarter. Pitcairn Co. now owns 5,698 shares of the company’s stock valued at $427,000 after purchasing an additional 235 shares during the period. Finally, Sei Investments Co. grew its position in shares of Monarch Casino & Resort by 1.4% during the 2nd quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock valued at $1,342,000 after purchasing an additional 271 shares in the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Trading Up 1.5 %

Shares of NASDAQ:MCRI opened at $79.67 on Wednesday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 17.33 and a beta of 1.73. The company has a 50-day moving average price of $76.54 and a 200-day moving average price of $71.93. Monarch Casino & Resort, Inc. has a 12 month low of $61.48 and a 12 month high of $80.39.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The firm had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. During the same period in the prior year, the firm posted $1.38 earnings per share. As a group, research analysts forecast that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, November 29th. Monarch Casino & Resort’s dividend payout ratio is currently 26.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCRI shares. StockNews.com upgraded shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 21st. Truist Financial boosted their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Finally, Macquarie restated a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

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.