Arrowstreet Capital Limited Partnership Acquires 67,973 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Arrowstreet Capital Limited Partnership increased its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 103.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,673 shares of the company's stock after acquiring an additional 67,973 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.73% of Monarch Casino & Resort worth $10,547,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in Monarch Casino & Resort during the fourth quarter valued at $53,000. KBC Group NV increased its holdings in Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company's stock worth $77,000 after buying an additional 396 shares in the last quarter. Independence Bank of Kentucky bought a new stake in Monarch Casino & Resort in the 4th quarter worth about $93,000. Nisa Investment Advisors LLC increased its holdings in Monarch Casino & Resort by 30.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company's stock worth $134,000 after buying an additional 400 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Monarch Casino & Resort by 49.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,760 shares of the company's stock worth $218,000 after buying an additional 917 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Stock Down 4.1 %

NASDAQ MCRI traded down $3.15 during trading hours on Thursday, reaching $74.11. The company's stock had a trading volume of 12,613 shares, compared to its average volume of 110,386. The firm's 50-day moving average price is $84.65 and its 200-day moving average price is $82.19. Monarch Casino & Resort, Inc. has a 1 year low of $64.50 and a 1 year high of $96.11. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 14.97 and a beta of 1.57.

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Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 EPS for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm posted $1.03 EPS. Equities research analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Analysts Set New Price Targets

MCRI has been the subject of several research analyst reports. StockNews.com downgraded Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Stifel Nicolaus boosted their price target on Monarch Casino & Resort from $80.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Jefferies Financial Group boosted 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. Wells Fargo & Company boosted their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research note on Wednesday, February 12th. Finally, Truist Financial upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating and boosted their price objective for the company from $82.00 to $100.00 in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Monarch Casino & Resort presently has an average rating of "Hold" and an average price target of $87.20.

About Monarch Casino & Resort

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.