Clark Capital Management Group Inc. Invests $6.19 Million in Monarch Casino & Resort, Inc. $MCRI

Clark Capital Management Group Inc. bought a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 58,505 shares of the company’s stock, valued at approximately $6,192,000. Clark Capital Management Group Inc. owned 0.32% of Monarch Casino & Resort as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MCRI. Farther Finance Advisors LLC lifted its position in Monarch Casino & Resort by 199.1% during the third quarter. Farther Finance Advisors LLC now owns 329 shares of the company’s stock worth $35,000 after acquiring an additional 219 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of Monarch Casino & Resort by 210.0% in the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock valued at $40,000 after purchasing an additional 315 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Monarch Casino & Resort in the third quarter valued at approximately $47,000. TD Private Client Wealth LLC increased its stake in shares of Monarch Casino & Resort by 57.1% during the third quarter. TD Private Client Wealth LLC now owns 594 shares of the company’s stock worth $63,000 after purchasing an additional 216 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Monarch Casino & Resort by 46.4% during the third quarter. Blue Trust Inc. now owns 612 shares of the company’s stock worth $65,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

Insider Activity

In related news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $100.63, for a total value of $100,630.00. Following the transaction, the chief executive officer directly owned 553,110 shares of the company’s stock, valued at $55,659,459.30. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 25.52% of the company’s stock.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ MCRI opened at $100.41 on Monday. The stock has a market capitalization of $1.80 billion, a P/E ratio of 18.49 and a beta of 1.29. The stock’s fifty day moving average is $94.49 and its 200 day moving average is $96.79. Monarch Casino & Resort, Inc. has a 52 week low of $69.99 and a 52 week high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.12). Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The firm had revenue of $140.00 million for the quarter, compared to the consensus estimate of $139.39 million. During the same period in the prior year, the company earned $0.22 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.30 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.20 annualized dividend and a dividend yield of 1.2%. Monarch Casino & Resort’s dividend payout ratio (DPR) is currently 22.10%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Zacks Research upgraded Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. Wells Fargo & Company increased their price objective on Monarch Casino & Resort from $92.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Jefferies Financial Group reissued a “hold” rating and set a $112.00 target price on shares of Monarch Casino & Resort in a report on Wednesday, December 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.80.

Monarch Casino & Resort Company 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.