Cambiar Investors LLC Cuts Stock Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Cambiar Investors LLC reduced its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,435 shares of the company’s stock after selling 540 shares during the period. Cambiar Investors LLC owned about 0.19% of Monarch Casino & Resort worth $2,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new position in shares of Monarch Casino & Resort during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC lifted its holdings in Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after purchasing an additional 178 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth $53,000. Canada Pension Plan Investment Board acquired a new stake in shares of Monarch Casino & Resort in the second quarter valued at about $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Monarch Casino & Resort by 81.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after buying an additional 1,221 shares during the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $78.45 on Friday. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 17.36 and a beta of 1.73. Monarch Casino & Resort, Inc. has a fifty-two week low of $60.18 and a fifty-two week high of $80.39. The stock has a 50 day moving average of $76.38 and a 200 day moving average of $71.77.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.10. The firm had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same quarter last year, the firm earned $1.38 EPS. Analysts forecast that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. Monarch Casino & Resort’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

MCRI has been the subject of a number of recent research reports. Truist Financial increased their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. StockNews.com raised Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 21st. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Finally, Macquarie reissued a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Company Profile

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.