Monarch Casino & Resort (NASDAQ:MCRI) PT Raised to $75.00

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective raised by Truist Financial from $74.00 to $75.00 in a report published on Thursday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Separately, Macquarie lifted their price target on shares of 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

Shares of MCRI opened at $77.83 on Thursday. The business’s fifty day moving average price is $67.91 and its two-hundred day moving average price is $69.03. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 18.40 and a beta of 1.74. Monarch Casino & Resort has a 52 week low of $56.25 and a 52 week 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. Investors of record on Sunday, September 1st will be given a $0.30 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.54%. Monarch Casino & Resort’s dividend payout ratio is 28.37%.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $68.00, for a total value of $136,000.00. Following the sale, the chief executive officer now directly owns 525,310 shares in the company, valued at $35,721,080. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 24.94% of the company’s stock.

Institutional Investors Weigh In On Monarch Casino & Resort

Several large investors have recently modified their holdings of the business. Cerity Partners LLC bought a new stake in Monarch Casino & Resort during the 4th quarter worth about $6,562,000. UniSuper Management Pty Ltd bought a new position in shares of Monarch Casino & Resort in the first quarter valued at $536,000. Heritage Wealth Management LLC acquired a new position in Monarch Casino & Resort during the fourth quarter worth $221,000. US Bancorp DE raised its position in Monarch Casino & Resort by 8.6% during the first quarter. US Bancorp DE now owns 6,124 shares of the company’s stock worth $459,000 after acquiring an additional 483 shares in the last quarter. Finally, Manning & Napier Group LLC raised its position in Monarch Casino & Resort by 0.3% during the fourth quarter. Manning & Napier Group LLC now owns 70,304 shares of the company’s stock worth $4,862,000 after acquiring an additional 200 shares in the last quarter. 62.37% of the stock is currently owned by institutional investors.

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.