Hotchkis & Wiley Capital Management LLC Reduces Stock Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Hotchkis & Wiley Capital Management LLC reduced its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,610 shares of the company's stock after selling 7,300 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.68% of Monarch Casino & Resort worth $9,957,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MCRI. Millennium Management LLC increased its position in shares of Monarch Casino & Resort by 376.1% in the second quarter. Millennium Management LLC now owns 85,869 shares of the company's stock worth $5,850,000 after purchasing an additional 67,833 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Monarch Casino & Resort in the 2nd quarter worth $3,307,000. American Century Companies Inc. raised its position in shares of Monarch Casino & Resort by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company's stock valued at $21,371,000 after buying an additional 46,323 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Monarch Casino & Resort during the 3rd quarter worth $2,349,000. Finally, Segall Bryant & Hamill LLC purchased a new position in Monarch Casino & Resort in the third quarter worth $1,868,000. Hedge funds and other institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Trading Down 0.9 %

Shares of NASDAQ:MCRI traded down $0.78 on Thursday, reaching $86.18. 75,262 shares of the company traded hands, compared to its average volume of 120,174. The stock has a market capitalization of $1.58 billion, a P/E ratio of 18.99 and a beta of 1.72. The business's 50-day simple moving average is $80.13 and its 200 day simple moving average is $74.30. Monarch Casino & Resort, Inc. has a 52 week low of $63.45 and a 52 week high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The business had revenue of $137.87 million for the quarter, compared to analyst estimates of $134.50 million. During the same period last year, the company earned $1.38 EPS. Sell-side analysts expect that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on MCRI. StockNews.com upgraded Monarch Casino & Resort from a "buy" rating to a "strong-buy" rating in a research report on Thursday, November 28th. Truist Financial raised their price objective on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a "hold" rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a "hold" rating in a research note on Thursday, October 24th.

Monarch Casino & Resort Profile

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.