Westwood Holdings Group Inc. Purchases New Stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Westwood Holdings Group Inc. purchased a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,638 shares of the company’s stock, valued at approximately $2,822,000. Westwood Holdings Group Inc. owned approximately 0.20% of Monarch Casino & Resort at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Diversified Trust Co acquired a new stake in Monarch Casino & Resort in the first quarter valued at $203,000. ProShare Advisors LLC acquired a new stake in shares of Monarch Casino & Resort during the first quarter worth $204,000. Choate Investment Advisors acquired a new stake in shares of Monarch Casino & Resort during the first quarter worth $225,000. Windham Capital Management LLC acquired a new stake in shares of Monarch Casino & Resort during the fourth quarter worth $209,000. Finally, Heritage Wealth Management LLC acquired a new stake in shares of Monarch Casino & Resort during the fourth quarter worth $221,000. 62.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Truist Financial increased their target price on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday. Macquarie reissued a “neutral” rating and set a $76.00 target price on shares of Monarch Casino & Resort in a report on Thursday.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock traded up $1.31 during trading on Friday, hitting $77.83. 131,881 shares of the stock were exchanged, compared to its average volume of 101,415. The stock’s fifty day moving average is $67.70 and its 200 day moving average is $68.90. The stock has a market cap of $1.46 billion, a PE ratio of 18.40 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 12 month low of $56.25 and a 12 month high of $78.35.

Monarch Casino & Resort Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. Monarch Casino & Resort’s dividend payout ratio is currently 28.37%.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 2,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $68.00, for a total transaction of $136,000.00. Following the completion of the transaction, the chief executive officer now owns 525,310 shares in the company, valued at $35,721,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.94% 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.