Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 79.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,353 shares of the company's stock after selling 13,072 shares during the period. Assenagon Asset Management S.A.'s holdings in Monarch Casino & Resort were worth $266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company's stock worth $37,000 after acquiring an additional 178 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Monarch Casino & Resort during the 2nd quarter valued at $53,000. Canada Pension Plan Investment Board acquired a new stake in shares of Monarch Casino & Resort during the 2nd quarter worth $102,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Monarch Casino & Resort by 81.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company's stock worth $185,000 after buying an additional 1,221 shares during the period. Finally, ProShare Advisors LLC purchased a new position in shares of Monarch Casino & Resort in the 1st quarter worth $204,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCRI has been the subject of several research analyst reports. Stifel Nicolaus upped their price target 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. Truist Financial lifted their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. StockNews.com raised shares of Monarch Casino & Resort from a "buy" rating to a "strong-buy" rating in a research report on Monday, October 21st. Finally, Macquarie restated a "neutral" rating and set a $76.00 target price on shares of Monarch Casino & Resort in a report on Thursday, July 25th.

Monarch Casino & Resort Price Performance

MCRI traded up $0.01 during trading hours on Monday, reaching $78.46. 76,744 shares of the stock traded hands, compared to its average volume of 122,376. Monarch Casino & Resort, Inc. has a fifty-two week low of $61.48 and a fifty-two week high of $80.39. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 17.36 and a beta of 1.73. The firm's fifty day simple moving average is $76.46 and its two-hundred day simple moving average is $71.85.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.10. The business had revenue of $137.87 million for the quarter, compared to analyst estimates of $134.50 million. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same period in the previous year, the company earned $1.38 earnings per share. On average, research analysts predict that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current year.

Monarch Casino & Resort Announces Dividend

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

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.