Orvieto Partners L.P. Purchases Shares of 63,292 Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Orvieto Partners L.P. acquired a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 63,292 shares of the company's stock, valued at approximately $4,994,000. Monarch Casino & Resort makes up about 4.2% of Orvieto Partners L.P.'s portfolio, making the stock its 8th largest position. Orvieto Partners L.P. owned approximately 0.34% of Monarch Casino & Resort as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCRI. DAVENPORT & Co LLC boosted its holdings in shares of Monarch Casino & Resort by 1.6% in the 4th quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company's stock worth $98,696,000 after purchasing an additional 19,845 shares during the period. Vanguard Group Inc. raised its stake in shares of Monarch Casino & Resort by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company's stock valued at $79,193,000 after acquiring an additional 9,234 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Monarch Casino & Resort by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company's stock worth $72,488,000 after acquiring an additional 72,764 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Monarch Casino & Resort by 9.3% in the 4th quarter. American Century Companies Inc. now owns 404,073 shares of the company's stock worth $31,881,000 after acquiring an additional 34,384 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $19,346,000. 62.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MCRI shares. Jefferies Financial Group raised their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a research note on Friday, January 3rd. Stifel Nicolaus reduced their target price on Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a research note on Wednesday. Macquarie reissued a "neutral" rating and set a $92.00 target price on shares of Monarch Casino & Resort in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 12th. Finally, Truist Financial lowered their price objective on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Monarch Casino & Resort currently has a consensus rating of "Hold" and a consensus target price of $88.60.

Monarch Casino & Resort Trading Up 2.4 %

Shares of Monarch Casino & Resort stock opened at $77.82 on Thursday. The stock's fifty day moving average price is $82.03 and its 200-day moving average price is $81.97. The firm has a market cap of $1.44 billion, a P/E ratio of 15.72 and a beta of 1.57. Monarch Casino & Resort, Inc. has a 12 month low of $64.58 and a 12 month high of $96.11.

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

Monarch Casino & Resort Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 1.54%. Monarch Casino & Resort's dividend payout ratio is currently 24.24%.

Monarch Casino & Resort Profile

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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