New York State Teachers Retirement System Sells 6,296 Shares of Monarch Casino & Resort, Inc. $MCRI

New York State Teachers Retirement System reduced its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 27.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 16,241 shares of the company’s stock after selling 6,296 shares during the period. New York State Teachers Retirement System’s holdings in Monarch Casino & Resort were worth $1,553,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Monarch Casino & Resort by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock valued at $94,000 after buying an additional 106 shares in the last quarter. Mariner LLC increased its stake in Monarch Casino & Resort by 6.5% during the third quarter. Mariner LLC now owns 2,493 shares of the company’s stock worth $264,000 after acquiring an additional 152 shares during the last quarter. Vident Advisory LLC increased its stake in Monarch Casino & Resort by 3.5% during the second quarter. Vident Advisory LLC now owns 5,566 shares of the company’s stock worth $481,000 after acquiring an additional 186 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Monarch Casino & Resort by 6.0% during the fourth quarter. Panagora Asset Management Inc. now owns 3,490 shares of the company’s stock worth $334,000 after acquiring an additional 198 shares during the last quarter. Finally, Strs Ohio raised its position in Monarch Casino & Resort by 2.7% during the fourth quarter. Strs Ohio now owns 7,500 shares of the company’s stock valued at $718,000 after purchasing an additional 200 shares during the period. 62.37% of the stock is currently owned by institutional investors.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 5,000 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the transaction, the chief executive officer owned 616,556 shares in the company, valued at $74,504,627.04. The trade was a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MCRI shares. Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th. UBS Group set a $124.00 price target on Monarch Casino & Resort in a report on Thursday, July 2nd. Jefferies Financial Group restated a “hold” rating on shares of Monarch Casino & Resort in a research report on Thursday, July 2nd. Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Monarch Casino & Resort from $97.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $112.40.

Monarch Casino & Resort Stock Down 1.4%

Monarch Casino & Resort stock traded down $1.70 during midday trading on Friday, reaching $123.86. The stock had a trading volume of 101,817 shares, compared to its average volume of 190,092. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 20.99 and a beta of 1.29. Monarch Casino & Resort, Inc. has a 52-week low of $85.66 and a 52-week high of $135.93. The company has a fifty day moving average of $123.58 and a 200 day moving average of $106.39.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.37. The business had revenue of $136.55 million during the quarter, compared to analyst estimates of $128.49 million. Monarch Casino & Resort had a return on equity of 19.98% and a net margin of 19.62%.The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts predict that Monarch Casino & Resort, Inc. will post 7.07 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, June 1st. Monarch Casino & Resort’s dividend payout ratio (DPR) is currently 20.34%.

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.