Louisiana State Employees Retirement System Sells 400 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Louisiana State Employees Retirement System lessened its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 6.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,200 shares of the company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Monarch Casino & Resort were worth $491,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. American Century Companies Inc. boosted its position in shares of Monarch Casino & Resort by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after purchasing an additional 46,323 shares in the last quarter. Tributary Capital Management LLC lifted its position in Monarch Casino & Resort by 0.3% in the 2nd quarter. Tributary Capital Management LLC now owns 276,426 shares of the company’s stock valued at $18,833,000 after acquiring an additional 827 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Monarch Casino & Resort by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company’s stock valued at $12,177,000 after acquiring an additional 1,400 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Monarch Casino & Resort by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock valued at $11,949,000 after acquiring an additional 9,990 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Monarch Casino & Resort by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 110,100 shares of the company’s stock valued at $7,501,000 after acquiring an additional 11,500 shares in the last quarter. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI opened at $79.67 on Wednesday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 17.33 and a beta of 1.73. Monarch Casino & Resort, Inc. has a 52 week low of $61.48 and a 52 week high of $80.39. The firm has a 50-day moving average price of $76.54 and a two-hundred day moving average price of $71.93.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The firm had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. During the same quarter last year, the business posted $1.38 EPS. As a group, sell-side analysts forecast that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 annualized dividend and a dividend yield of 1.51%. Monarch Casino & Resort’s payout ratio is currently 26.55%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 21st. Stifel Nicolaus raised their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Truist Financial raised their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Macquarie reaffirmed a “neutral” rating and issued a $76.00 price target on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Company Profile

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.