Eagle Asset Management Inc. Reduces Stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Eagle Asset Management Inc. decreased its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 24.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,269 shares of the company's stock after selling 23,452 shares during the period. Eagle Asset Management Inc. owned approximately 0.40% of Monarch Casino & Resort worth $6,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in shares of Monarch Casino & Resort in the third quarter valued at approximately $444,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Monarch Casino & Resort by 141.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,736 shares of the company's stock valued at $613,000 after acquiring an additional 4,528 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Monarch Casino & Resort in the 3rd quarter valued at about $1,868,000. Victory Capital Management Inc. increased its position in Monarch Casino & Resort by 58.9% during the third quarter. Victory Capital Management Inc. now owns 8,462 shares of the company's stock worth $671,000 after buying an additional 3,138 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Monarch Casino & Resort in the third quarter valued at approximately $309,000. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Monarch Casino & Resort Stock Up 1.7 %

Monarch Casino & Resort stock traded up $1.43 during trading hours on Monday, reaching $85.85. 103,377 shares of the company's stock were exchanged, compared to its average volume of 119,779. The firm has a market capitalization of $1.58 billion, a PE ratio of 18.99 and a beta of 1.73. The firm's 50 day simple moving average is $78.72 and its 200 day simple moving average is $73.36. Monarch Casino & Resort, Inc. has a twelve month low of $62.03 and a twelve month high of $86.68.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.10. The firm had revenue of $137.87 million during the quarter, compared to analysts' expectations of $134.50 million. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same quarter last year, the firm posted $1.38 earnings per share. Analysts anticipate that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

Wall Street Analyst Weigh In

MCRI has been the subject of a number of research reports. StockNews.com cut shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 6th. Stifel Nicolaus upped their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a "hold" rating in a research report on Thursday, October 24th. Finally, Truist Financial lifted their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a "hold" rating in a report on Wednesday, October 23rd.

About Monarch Casino & Resort

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.