American Century Companies Inc. Acquires 24,472 Shares of Monarch Casino & Resort, Inc. $MCRI

American Century Companies Inc. lifted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 5.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 471,072 shares of the company's stock after purchasing an additional 24,472 shares during the quarter. American Century Companies Inc. owned 2.58% of Monarch Casino & Resort worth $40,719,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Parallel Advisors LLC lifted its holdings in Monarch Casino & Resort by 51.2% in the 2nd quarter. Parallel Advisors LLC now owns 384 shares of the company's stock worth $33,000 after buying an additional 130 shares during the period. Vestcor Inc bought a new position in Monarch Casino & Resort during the first quarter valued at approximately $58,000. GAMMA Investing LLC grew its holdings in shares of Monarch Casino & Resort by 28.7% in the second quarter. GAMMA Investing LLC now owns 839 shares of the company's stock worth $73,000 after acquiring an additional 187 shares during the period. Morgan Dempsey Capital Management LLC grew its position in Monarch Casino & Resort by 19.2% during the second quarter. Morgan Dempsey Capital Management LLC now owns 1,660 shares of the company's stock valued at $143,000 after buying an additional 267 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Monarch Casino & Resort by 28.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,903 shares of the company's stock valued at $164,000 after purchasing an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MCRI shares. Wall Street Zen downgraded Monarch Casino & Resort from a "buy" rating to a "hold" rating in a research report on Saturday, November 1st. Weiss Ratings restated a "buy (b)" rating on shares of Monarch Casino & Resort in a report on Monday, November 17th. Stifel Nicolaus boosted their price objective on shares of Monarch Casino & Resort from $92.00 to $97.00 and gave the company a "hold" rating in a research report on Wednesday, October 22nd. Zacks Research cut Monarch Casino & Resort from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Finally, Wells Fargo & Company boosted their price target on Monarch Casino & Resort from $89.00 to $91.00 and gave the company an "equal weight" rating in a report on Wednesday, October 22nd. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $94.60.

Check Out Our Latest Stock Report on Monarch Casino & Resort

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $96.58 on Friday. The firm's 50-day moving average is $96.65 and its two-hundred day moving average is $94.82. The company has a market capitalization of $1.76 billion, a PE ratio of 17.43 and a beta of 1.48. Monarch Casino & Resort, Inc. has a 12 month low of $69.99 and a 12 month high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its earnings results on Tuesday, October 21st. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.06. Monarch Casino & Resort had a net margin of 19.26% and a return on equity of 19.33%. The company had revenue of $142.81 million during the quarter, compared to analyst estimates of $145.54 million. Sell-side analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.30 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.2%. Monarch Casino & Resort's payout ratio is currently 21.66%.

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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