Brasada Capital Management LP trimmed its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 52.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the company's stock after selling 7,610 shares during the period. Brasada Capital Management LP's holdings in Monarch Casino & Resort were worth $552,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC grew its stake in Monarch Casino & Resort by 1.6% in the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company's stock valued at $98,696,000 after acquiring an additional 19,845 shares during the period. Vanguard Group Inc. grew its position in Monarch Casino & Resort by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company's stock valued at $79,193,000 after purchasing an additional 9,234 shares during the period. JPMorgan Chase & Co. grew its position in Monarch Casino & Resort by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company's stock valued at $72,488,000 after purchasing an additional 72,764 shares during the period. American Century Companies Inc. increased its stake in Monarch Casino & Resort by 9.3% during the 4th quarter. American Century Companies Inc. now owns 404,073 shares of the company's stock valued at $31,881,000 after purchasing an additional 34,384 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in Monarch Casino & Resort during the fourth quarter worth $19,346,000. 62.37% of the stock is owned by institutional investors and hedge funds.
Monarch Casino & Resort Stock Up 3.1 %
MCRI stock opened at $76.03 on Wednesday. The firm has a market cap of $1.40 billion, a PE ratio of 15.36 and a beta of 1.57. The business has a 50 day moving average of $82.36 and a 200-day moving average of $82.00. Monarch Casino & Resort, Inc. has a 12-month low of $64.58 and a 12-month high of $96.11.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.01. The firm had revenue of $125.39 million during the quarter, compared to the consensus estimate of $122.70 million. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. On average, research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a "hold" rating in a report on Friday, January 3rd. 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 report on Tuesday, January 14th. Wells Fargo & Company increased their price objective on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 12th. StockNews.com cut Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus increased their price target on Monarch Casino & Resort from $80.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $87.20.
Check Out Our Latest Stock Report on MCRI
Monarch Casino & Resort Profile
(
Free Report)
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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