GHP Investment Advisors Inc. Purchases Shares of 7,608 Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

GHP Investment Advisors Inc. bought a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,608 shares of the company's stock, valued at approximately $600,000.

Other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC boosted its position in shares of Monarch Casino & Resort by 1.6% during the 4th 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 in the last quarter. Janus Henderson Group PLC grew its position in Monarch Casino & Resort by 0.9% in the third quarter. Janus Henderson Group PLC now owns 388,658 shares of the company's stock valued at $30,809,000 after acquiring an additional 3,488 shares during the period. Wellington Management Group LLP raised its stake in Monarch Casino & Resort by 3.9% during the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company's stock worth $17,410,000 after acquiring an additional 8,283 shares in the last quarter. FMR LLC raised its stake in Monarch Casino & Resort by 1.1% during the third quarter. FMR LLC now owns 134,098 shares of the company's stock worth $10,630,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Monarch Casino & Resort by 518.8% during the third quarter. Jane Street Group LLC now owns 117,072 shares of the company's stock valued at $9,280,000 after acquiring an additional 98,153 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCRI has been the topic of several analyst reports. Stifel Nicolaus upped their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a "hold" rating in a report on Thursday, October 24th. StockNews.com lowered shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 4th. Jefferies Financial Group boosted their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a report on Friday, January 3rd. Wells Fargo & Company began coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They set an "underweight" rating and a $79.00 price target on the stock. 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Monarch Casino & Resort has a consensus rating of "Hold" and a consensus price target of $84.00.

Insider Transactions at Monarch Casino & Resort

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 transaction, the chief executive officer now directly owns 528,436 shares in the company, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.94% of the stock is owned by insiders.

Monarch Casino & Resort Stock Up 0.5 %

Monarch Casino & Resort stock traded up $0.40 during midday trading on Tuesday, hitting $85.81. 54,063 shares of the stock were exchanged, compared to its average volume of 88,506. The company has a fifty day simple moving average of $82.62 and a two-hundred day simple moving average of $79.39. The stock has a market capitalization of $1.58 billion, a PE ratio of 18.98 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 52 week low of $64.50 and a 52 week high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, equities research analysts anticipate that Monarch Casino & Resort, Inc. will post 4.73 EPS for the current fiscal year.

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.