SG Americas Securities LLC Reduces Position in Monarch Casino & Resort, Inc. $MCRI

SG Americas Securities LLC trimmed its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 27.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,767 shares of the company’s stock after selling 4,884 shares during the period. SG Americas Securities LLC’s holdings in Monarch Casino & Resort were worth $1,221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd raised its position in Monarch Casino & Resort by 77.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company’s stock worth $19,951,000 after purchasing an additional 82,035 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $7,244,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Monarch Casino & Resort by 64.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company’s stock valued at $18,943,000 after buying an additional 70,185 shares during the period. Clark Capital Management Group Inc. bought a new position in shares of Monarch Casino & Resort during the third quarter valued at approximately $6,192,000. Finally, Invesco Ltd. grew its stake in shares of Monarch Casino & Resort by 38.2% during the fourth quarter. Invesco Ltd. now owns 194,371 shares of the company’s stock valued at $18,601,000 after buying an additional 53,745 shares during the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.84, for a total value of $604,200.00. Following the transaction, the chief executive officer owned 616,556 shares of the company’s stock, valued at $74,504,627.04. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 26.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MCRI has been the topic of several recent analyst reports. Zacks Research downgraded Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Monarch Casino & Resort in a report on Wednesday, May 27th. Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. Wells Fargo & Company increased their target price on Monarch Casino & Resort from $97.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Monarch Casino & Resort in a research note on Thursday. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $112.40.

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock opened at $129.94 on Friday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 22.02 and a beta of 1.29. Monarch Casino & Resort, Inc. has a 1 year low of $85.66 and a 1 year high of $135.93. The firm has a 50-day moving average of $122.72 and a two-hundred day moving average of $105.48.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.37. The business had revenue of $136.55 million for the quarter, compared to analyst estimates of $128.49 million. Monarch Casino & Resort had a net margin of 19.62% and a return on equity of 19.98%. Monarch Casino & Resort’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts expect that Monarch Casino & Resort, Inc. will post 7.07 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.20 annualized dividend and a yield of 0.9%. Monarch Casino & Resort’s dividend payout ratio is 20.34%.

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.