Monarch Casino & Resort (NASDAQ:MCRI) Given Neutral Rating at Macquarie

Macquarie reiterated their neutral rating on shares of Monarch Casino & Resort (NASDAQ:MCRI) in a research note released on Thursday, Benzinga reports. They currently have a $76.00 price objective on the stock.

Separately, Truist Financial increased their price target on Monarch Casino & Resort from $74.00 to $75.00 and gave the company a hold rating in a research report on Thursday.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ MCRI opened at $76.52 on Thursday. The firm’s 50-day simple moving average is $67.70 and its 200 day simple moving average is $68.90. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 18.09 and a beta of 1.74. Monarch Casino & Resort has a fifty-two week low of $56.25 and a fifty-two week high of $77.50.

Monarch Casino & Resort Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend 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 presently 28.37%.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $68.00, for a total value 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 legal filing with the SEC, which can be accessed through the SEC website. 24.94% of the stock is currently owned by company insiders.

Institutional Trading of Monarch Casino & Resort

Several hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co bought a new position in shares of Monarch Casino & Resort during the 1st quarter valued at approximately $203,000. ProShare Advisors LLC bought a new stake in shares of Monarch Casino & Resort in the 1st quarter worth approximately $204,000. Windham Capital Management LLC purchased a new position in Monarch Casino & Resort in the fourth quarter valued at approximately $209,000. Heritage Wealth Management LLC bought a new position in Monarch Casino & Resort during the fourth quarter valued at $221,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Monarch Casino & Resort by 37.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,249 shares of the company’s stock worth $225,000 after buying an additional 882 shares during the last quarter. 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.