Monarch Casino & Resort (NASDAQ:MCRI) Sees Large Volume Increase – Should You Buy?

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) saw unusually-strong trading volume on Thursday . Approximately 126,776 shares traded hands during trading, an increase of 13% from the previous session’s volume of 112,060 shares.The stock last traded at $95.51 and had previously closed at $96.43.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCRI. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a research note on Monday, December 29th. Wells Fargo & Company lifted their price target on Monarch Casino & Resort from $92.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Zacks Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $112.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Monarch Casino & Resort presently has an average rating of “Moderate Buy” and a consensus target price of $99.80.

Monarch Casino & Resort Trading Down 1.1%

The company has a market capitalization of $1.71 billion, a PE ratio of 17.55 and a beta of 1.30. The business’s fifty day moving average is $95.71 and its two-hundred day moving average is $96.26.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, February 4th. The company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.12). Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The business had revenue of $140.00 million during the quarter, compared to the consensus estimate of $139.39 million. During the same period in the previous year, the business posted $0.22 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, March 2nd. Monarch Casino & Resort’s dividend payout ratio (DPR) is presently 22.10%.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $99.00, for a total transaction of $198,000.00. Following the sale, the chief executive officer owned 536,304 shares of the company’s stock, valued at $53,094,096. This trade represents a 0.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 25.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in Monarch Casino & Resort by 4.3% in the third quarter. American Century Companies Inc. now owns 491,400 shares of the company’s stock worth $52,010,000 after purchasing an additional 20,328 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Monarch Casino & Resort by 211.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 68,092 shares of the company’s stock valued at $7,207,000 after buying an additional 46,235 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Monarch Casino & Resort by 10.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 108,791 shares of the company’s stock valued at $9,404,000 after buying an additional 10,553 shares during the period. Tributary Capital Management LLC lifted its holdings in shares of Monarch Casino & Resort by 57.8% during the 3rd quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock valued at $41,204,000 after buying an additional 142,621 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Monarch Casino & Resort in the 3rd quarter worth $1,348,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.