Voya Investment Management LLC Lowers Stock Holdings in Monarch Casino & Resort, Inc. $MCRI

Voya Investment Management LLC trimmed its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,570 shares of the company’s stock after selling 6,765 shares during the period. Voya Investment Management LLC owned 0.27% of Monarch Casino & Resort worth $5,141,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. bought a new position in Monarch Casino & Resort in the 1st quarter worth about $5,904,000. Geode Capital Management LLC grew its stake in Monarch Casino & Resort by 20.0% in the 2nd quarter. Geode Capital Management LLC now owns 391,868 shares of the company’s stock worth $33,877,000 after buying an additional 65,272 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Monarch Casino & Resort by 211.5% in the third quarter. Assenagon Asset Management S.A. now owns 68,092 shares of the company’s stock worth $7,207,000 after acquiring an additional 46,235 shares in the last quarter. Norges Bank bought a new position in Monarch Casino & Resort in the second quarter valued at $3,682,000. Finally, Lazard Asset Management LLC raised its position in Monarch Casino & Resort by 1,483.4% during the second quarter. Lazard Asset Management LLC now owns 42,561 shares of the company’s stock valued at $3,678,000 after purchasing an additional 39,873 shares in the last quarter. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Trading Down 0.5%

NASDAQ:MCRI opened at $97.75 on Friday. The company has a 50-day moving average price of $95.47 and a 200-day moving average price of $96.78. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 17.64 and a beta of 1.37. Monarch Casino & Resort, Inc. has a 12 month low of $69.99 and a 12 month high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.06. The company had revenue of $142.81 million during the quarter, compared to the consensus estimate of $145.54 million. Monarch Casino & Resort had a net margin of 19.26% and a return on equity of 19.33%. Equities analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, December 1st. Monarch Casino & Resort’s dividend payout ratio is presently 21.66%.

Analyst Upgrades and Downgrades

MCRI has been the subject of a number of recent research reports. Jefferies Financial Group restated a “hold” rating and issued a $112.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monarch Casino & Resort in a research note on Monday. Zacks Research cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Wells Fargo & Company upped their price target on shares of Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. Finally, Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $92.00 to $97.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $99.40.

Monarch Casino & Resort Profile

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.