Macquarie reaffirmed their neutral rating on shares of Monarch Casino & Resort (NASDAQ:MCRI – Free Report) in a report released on Thursday, Benzinga reports. Macquarie currently has a $76.00 target price on the stock.
Separately, Truist Financial raised their price objective on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the company a hold rating in a report on Thursday.
Check Out Our Latest Stock Report on MCRI
Monarch Casino & Resort Price Performance
Monarch Casino & Resort Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, August 30th. Monarch Casino & Resort’s payout ratio is currently 28.37%.
Insider Buying and Selling at Monarch Casino & Resort
In other news, CEO John Farahi sold 2,000 shares of the 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 sale, the chief executive officer now owns 525,310 shares in the company, valued at $35,721,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 24.94% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC acquired a new position in Monarch Casino & Resort during the fourth quarter worth $6,562,000. Manning & Napier Advisors LLC acquired a new position in shares of Monarch Casino & Resort during the 2nd quarter worth $3,307,000. DAVENPORT & Co LLC lifted its stake in shares of Monarch Casino & Resort by 3.7% in the fourth quarter. DAVENPORT & Co LLC now owns 1,187,370 shares of the company’s stock valued at $82,396,000 after purchasing an additional 42,235 shares during the period. Westwood Holdings Group Inc. acquired a new stake in shares of Monarch Casino & Resort in the first quarter valued at about $2,822,000. Finally, Vest Financial LLC purchased a new stake in Monarch Casino & Resort during the first quarter worth about $872,000. 62.37% of the stock is currently owned by institutional investors and hedge funds.
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.
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