Dark Forest Capital Management LP Buys Shares of 4,122 Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Dark Forest Capital Management LP bought a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,122 shares of the company's stock, valued at approximately $325,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Alliancebernstein L.P. grew its holdings in Monarch Casino & Resort by 0.8% during the 4th quarter. Alliancebernstein L.P. now owns 15,381 shares of the company's stock worth $1,214,000 after acquiring an additional 121 shares in the last quarter. Heritage Family Offices LLP boosted its stake in shares of Monarch Casino & Resort by 7.0% during the fourth quarter. Heritage Family Offices LLP now owns 2,993 shares of the company's stock valued at $236,000 after purchasing an additional 196 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Monarch Casino & Resort by 0.9% during the fourth quarter. New York State Teachers Retirement System now owns 24,706 shares of the company's stock valued at $1,949,000 after buying an additional 210 shares during the period. Exchange Traded Concepts LLC boosted its position in Monarch Casino & Resort by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company's stock valued at $785,000 after acquiring an additional 250 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its holdings in shares of Monarch Casino & Resort by 3.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 12,223 shares of the company's stock valued at $964,000 after acquiring an additional 361 shares during the period. Institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Trading Up 0.6 %

NASDAQ MCRI opened at $77.49 on Monday. Monarch Casino & Resort, Inc. has a 12-month low of $64.58 and a 12-month high of $96.11. The company has a fifty day simple moving average of $81.39 and a two-hundred day simple moving average of $82.06. The stock has a market cap of $1.43 billion, a P/E ratio of 15.65 and a beta of 1.57.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. The company had revenue of $125.39 million during the quarter, compared to analyst estimates of $122.70 million. As a group, sell-side analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 1.55%. Monarch Casino & Resort's dividend payout ratio is currently 23.67%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MCRI shares. Macquarie reaffirmed a "neutral" rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. StockNews.com lowered shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a "hold" rating in a research note on Friday, January 3rd. Wells Fargo & Company upped their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 12th. Finally, Truist Financial dropped their target price on Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $88.60.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.

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