DAVENPORT & Co LLC grew its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,256,305 shares of the company's stock after acquiring an additional 19,845 shares during the quarter. DAVENPORT & Co LLC owned 6.83% of Monarch Casino & Resort worth $98,696,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC acquired a new stake in shares of Monarch Casino & Resort in the 3rd quarter valued at approximately $258,000. Barclays PLC raised its stake in Monarch Casino & Resort by 108.2% in the 3rd quarter. Barclays PLC now owns 33,508 shares of the company's stock valued at $2,656,000 after acquiring an additional 17,413 shares during the period. Wellington Management Group LLP increased its position in Monarch Casino & Resort by 3.9% during the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company's stock worth $17,410,000 after buying an additional 8,283 shares during the period. Versor Investments LP bought a new position in Monarch Casino & Resort during the 3rd quarter worth $230,000. Finally, Ritholtz Wealth Management bought a new position in Monarch Casino & Resort during the 4th quarter worth $254,000. Institutional investors and hedge funds own 62.37% of the company's stock.
Insider Activity
In related news, CEO John Farahi sold 1,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the sale, the chief executive officer now directly owns 528,436 shares in the company, valued at $41,059,477.20. This represents a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 24.94% of the company's stock.
Monarch Casino & Resort Trading Up 0.8 %
Shares of NASDAQ:MCRI traded up $0.65 during mid-day trading on Wednesday, hitting $86.55. 17,153 shares of the company traded hands, compared to its average volume of 86,091. The stock has a market cap of $1.59 billion, a P/E ratio of 19.15 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 12-month low of $64.50 and a 12-month high of $89.06. The stock has a 50-day moving average price of $82.47 and a two-hundred day moving average price of $78.91.
Wall Street Analyst Weigh In
MCRI has been the topic of a number of recent analyst reports. Truist Financial upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating and raised their price target for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th. Jefferies Financial Group lifted 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. StockNews.com lowered Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Wells Fargo & Company initiated coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They set an "underweight" rating and a $79.00 price objective for the company. Finally, Stifel Nicolaus lifted their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a "hold" rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $84.00.
Get Our Latest Stock Analysis on MCRI
About Monarch Casino & Resort
(
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.
Further Reading
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