Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Stake Raised by American Century Companies Inc.

American Century Companies Inc. raised its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 9.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 404,073 shares of the company's stock after purchasing an additional 34,384 shares during the period. American Century Companies Inc. owned 2.20% of Monarch Casino & Resort worth $31,881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DAVENPORT & Co LLC boosted its position in shares of Monarch Casino & Resort by 1.6% during the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company's stock worth $98,696,000 after buying an additional 19,845 shares during the period. Janus Henderson Group PLC boosted its position in Monarch Casino & Resort by 0.9% during the 3rd quarter. Janus Henderson Group PLC now owns 388,658 shares of the company's stock worth $30,809,000 after acquiring an additional 3,488 shares during the period. Wellington Management Group LLP grew its stake in shares of Monarch Casino & Resort by 3.9% in the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company's stock worth $17,410,000 after purchasing an additional 8,283 shares in the last quarter. FMR LLC grew its stake in shares of Monarch Casino & Resort by 1.1% in the third quarter. FMR LLC now owns 134,098 shares of the company's stock worth $10,630,000 after purchasing an additional 1,396 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Monarch Casino & Resort by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 118,512 shares of the company's stock valued at $9,351,000 after purchasing an additional 5,674 shares during the period. Institutional investors own 62.37% of the company's stock.

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Monarch Casino & Resort Stock Up 0.7 %

NASDAQ:MCRI traded up $0.52 during trading hours on Wednesday, reaching $79.22. 56,033 shares of the company's stock were exchanged, compared to its average volume of 116,929. The company has a market capitalization of $1.46 billion, a P/E ratio of 16.00 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 12 month low of $64.50 and a 12 month high of $96.11. The business's 50-day simple moving average is $86.16 and its two-hundred day simple moving average is $82.33.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same quarter last year, the firm posted $1.03 earnings per share. As a group, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Insider Activity at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the sale, the chief executive officer now owns 528,436 shares in the company, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.94% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MCRI has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research report on Wednesday, February 12th. StockNews.com cut shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Stifel Nicolaus boosted their target price on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Jefferies Financial Group increased their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a "hold" rating in a research note on Friday, January 3rd. Finally, Truist Financial raised Monarch Casino & Resort from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Monarch Casino & Resort currently has an average rating of "Hold" and a consensus target price of $87.20.

Monarch Casino & Resort Company 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.