Monarch Casino & Resort (NASDAQ:MCRI) Price Target Raised to $75.00 at Truist Financial

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective boosted by Truist Financial from $74.00 to $75.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a hold rating on the stock.

Separately, Macquarie lifted their target price on Monarch Casino & Resort from $75.00 to $76.00 and gave the stock a neutral rating in a research report on Thursday, April 18th.

Monarch Casino & Resort Stock Performance

MCRI opened at $76.52 on Thursday. The business’s 50-day simple moving average is $67.70 and its 200-day simple moving average is $68.90. Monarch Casino & Resort has a one year low of $56.25 and a one year high of $77.50. The stock has a market capitalization of $1.43 billion, a P/E ratio of 18.09 and a beta of 1.74.

Monarch Casino & Resort Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, August 30th. Monarch Casino & Resort’s dividend payout ratio is currently 28.37%.

Insider Buying and Selling

In related news, CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $68.00, for a total transaction of $136,000.00. Following the transaction, the chief executive officer now owns 525,310 shares of the company’s stock, valued at $35,721,080. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 24.94% of the company’s stock.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of hedge funds and other institutional investors have recently made changes to their positions in MCRI. Diversified Trust Co purchased a new position in shares of Monarch Casino & Resort during the first quarter worth about $203,000. ProShare Advisors LLC purchased a new position in shares of Monarch Casino & Resort during the first quarter worth about $204,000. Windham Capital Management LLC purchased a new position in shares of Monarch Casino & Resort during the fourth quarter worth about $209,000. Heritage Wealth Management LLC purchased a new stake in Monarch Casino & Resort in the 4th quarter valued at approximately $221,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Monarch Casino & Resort by 37.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,249 shares of the company’s stock valued at $225,000 after purchasing an additional 882 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

About Monarch Casino & Resort

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.