Illinois Municipal Retirement Fund Has $544,000 Stock Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Illinois Municipal Retirement Fund cut its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,862 shares of the company’s stock after selling 156 shares during the period. Illinois Municipal Retirement Fund’s holdings in Monarch Casino & Resort were worth $544,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MCRI. Allspring Global Investments Holdings LLC boosted its position in Monarch Casino & Resort by 40.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 637 shares of the company’s stock worth $40,000 after buying an additional 184 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Monarch Casino & Resort by 29.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,367 shares of the company’s stock worth $147,000 after purchasing an additional 537 shares during the period. Islay Capital Management LLC acquired a new position in shares of Monarch Casino & Resort in the 3rd quarter worth approximately $158,000. Nisa Investment Advisors LLC lifted its position in shares of Monarch Casino & Resort by 53.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,871 shares of the company’s stock worth $178,000 after purchasing an additional 1,000 shares during the period. Finally, Fidelity D & D Bancorp Inc. acquired a new position in shares of Monarch Casino & Resort in the 4th quarter worth approximately $207,000. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock opened at $67.77 on Wednesday. The firm has a market capitalization of $1.28 billion, a PE ratio of 16.02 and a beta of 1.66. The firm has a fifty day simple moving average of $70.67 and a two-hundred day simple moving average of $67.39. The company has a current ratio of 0.51, a quick ratio of 0.45 and a debt-to-equity ratio of 0.01. Monarch Casino & Resort, Inc. has a 12 month low of $56.25 and a 12 month high of $75.40.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). Monarch Casino & Resort had a net margin of 16.40% and a return on equity of 17.13%. The business had revenue of $128.19 million for the quarter, compared to the consensus estimate of $119.33 million. Analysts forecast that Monarch Casino & Resort, Inc. will post 4.46 EPS for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be paid a $0.30 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.20 annualized dividend and a dividend yield of 1.77%. Monarch Casino & Resort’s payout ratio is 28.37%.

Wall Street Analyst Weigh In

MCRI has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Monarch Casino & Resort from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. Macquarie boosted their price target on shares of Monarch Casino & Resort from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. Stifel Nicolaus restated a “hold” rating and issued a $70.00 price target on shares of Monarch Casino & Resort in a research report on Friday, January 5th. Finally, StockNews.com upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th.

Monarch Casino & Resort Company Profile

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.