Assenagon Asset Management S.A. Has $266,000 Stock Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Assenagon Asset Management S.A. trimmed its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 79.6% during the third quarter, Holdings Channel reports. The firm owned 3,353 shares of the company’s stock after selling 13,072 shares during the period. Assenagon Asset Management S.A.’s holdings in Monarch Casino & Resort were worth $266,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Trust Point Inc. lifted its position in shares of Monarch Casino & Resort by 1.5% during the 3rd quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock worth $873,000 after buying an additional 162 shares during the period. Heritage Family Offices LLP acquired a new position in Monarch Casino & Resort during the third quarter worth $222,000. Exchange Traded Concepts LLC lifted its holdings in shares of Monarch Casino & Resort by 96.5% during the third quarter. Exchange Traded Concepts LLC now owns 9,698 shares of the company’s stock valued at $769,000 after acquiring an additional 4,762 shares during the period. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 178 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Monarch Casino & Resort by 376.1% in the 2nd quarter. Millennium Management LLC now owns 85,869 shares of the company’s stock worth $5,850,000 after purchasing an additional 67,833 shares during the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCRI has been the subject of several analyst reports. Stifel Nicolaus lifted their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, October 24th. StockNews.com raised Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a report on Monday, October 21st. Macquarie reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Monarch Casino & Resort in a research note on Thursday, July 25th. Finally, Truist Financial increased their price objective on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd.

Monarch Casino & Resort Trading Down 0.1 %

NASDAQ:MCRI opened at $78.45 on Monday. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 17.36 and a beta of 1.73. The business’s 50-day moving average price is $76.46 and its two-hundred day moving average price is $71.83. Monarch Casino & Resort, Inc. has a 1-year low of $60.18 and a 1-year 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, topping the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The business had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. During the same quarter last year, the business posted $1.38 EPS. Sell-side analysts predict that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. Monarch Casino & Resort’s payout ratio is 26.55%.

About Monarch Casino & Resort

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.