Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. trimmed its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 196,783 shares of the company’s stock after selling 19,640 shares during the quarter. Epoch Investment Partners Inc. owned approximately 1.05% of Monarch Casino & Resort worth $14,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Diversified Trust Co acquired a new stake in shares of Monarch Casino & Resort in the 1st quarter valued at $203,000. ProShare Advisors LLC acquired a new stake in shares of Monarch Casino & Resort in the 1st quarter valued at $204,000. Choate Investment Advisors acquired a new stake in shares of Monarch Casino & Resort in the 1st quarter valued at $225,000. Windham Capital Management LLC acquired a new stake in Monarch Casino & Resort during the 4th quarter worth $209,000. Finally, Quadrature Capital Ltd acquired a new stake in Monarch Casino & Resort during the 1st quarter worth $239,000. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCRI. Macquarie reiterated a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a research note on Thursday. Truist Financial lifted their price target on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $77.83 on Monday. Monarch Casino & Resort, Inc. has a 1 year low of $56.25 and a 1 year high of $78.35. The company has a market capitalization of $1.46 billion, a P/E ratio of 18.40 and a beta of 1.74. The company’s fifty day moving average is $67.91 and its two-hundred day moving average is $69.03.

Monarch Casino & Resort Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, August 30th. Monarch Casino & Resort’s payout ratio is currently 28.37%.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $68.00, for a total transaction of $136,000.00. Following the transaction, the chief executive officer now directly owns 525,310 shares of the company’s stock, valued at approximately $35,721,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 24.94% of the stock is currently owned by insiders.

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.