Deutsche Bank AG Acquires New Stake in Monarch Casino & Resort, Inc. $MCRI

Deutsche Bank AG acquired a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,991 shares of the company’s stock, valued at approximately $1,710,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCRI. Osaic Holdings Inc. boosted its stake in shares of Monarch Casino & Resort by 210.0% during 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 period. Kestra Advisory Services LLC purchased a new position in Monarch Casino & Resort in the 4th quarter worth about $40,000. Global Retirement Partners LLC purchased a new stake in Monarch Casino & Resort in the 2nd quarter valued at about $57,000. Parallel Advisors LLC boosted its position in Monarch Casino & Resort by 191.3% in the 1st quarter. Parallel Advisors LLC now owns 1,136 shares of the company’s stock valued at $109,000 after buying an additional 746 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Monarch Casino & Resort by 69.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company’s stock worth $110,000 after acquiring an additional 524 shares during the period. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MCRI shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Monarch Casino & Resort in a research note on Thursday, July 2nd. Wells Fargo & Company lowered their target price on Monarch Casino & Resort from $116.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, July 21st. Truist Financial increased their price target on Monarch Casino & Resort from $125.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Wall Street Zen cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, UBS Group set a $124.00 target price on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Monarch Casino & Resort has an average rating of “Hold” and an average target price of $124.40.

Monarch Casino & Resort Stock Performance

Monarch Casino & Resort stock opened at $122.57 on Friday. The stock has a 50-day moving average of $124.97 and a two-hundred day moving average of $113.62. Monarch Casino & Resort, Inc. has a one year low of $88.13 and a one year high of $135.93. The stock has a market cap of $2.20 billion, a PE ratio of 19.64 and a beta of 1.31.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Monday, July 20th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. Monarch Casino & Resort had a return on equity of 20.63% and a net margin of 20.40%.The business had revenue of $142.60 million for the quarter, compared to analyst estimates of $142.85 million. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Monarch Casino & Resort, Inc. will post 6.98 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. Monarch Casino & Resort’s dividend payout ratio (DPR) is currently 19.23%.

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.