Magnetar Financial LLC Invests $380,000 in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Magnetar Financial LLC bought a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,815 shares of the company's stock, valued at approximately $380,000.

A number of other large investors have also recently modified their holdings of MCRI. Golden State Wealth Management LLC bought a new stake in shares of Monarch Casino & Resort during the 4th quarter worth $53,000. KBC Group NV raised its stake in Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company's stock worth $77,000 after acquiring an additional 396 shares in the last quarter. Independence Bank of Kentucky bought a new position in shares of Monarch Casino & Resort in the fourth quarter worth about $93,000. Nisa Investment Advisors LLC boosted its stake in shares of Monarch Casino & Resort by 30.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company's stock valued at $134,000 after purchasing an additional 400 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Monarch Casino & Resort by 49.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,760 shares of the company's stock valued at $218,000 after purchasing an additional 917 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.

Insider Activity at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the transaction, the chief executive officer now owns 528,436 shares in the company, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 24.94% of the stock is currently owned by company insiders.

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Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus increased their price objective on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Wells Fargo & Company increased their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research note on Wednesday, February 12th. StockNews.com lowered Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Jefferies Financial Group increased their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a "hold" rating in a research report on Friday, January 3rd. Finally, Truist Financial upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating and boosted their price target for the stock from $82.00 to $100.00 in a report on Tuesday, January 14th. One 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 company. According to data from MarketBeat, Monarch Casino & Resort has an average rating of "Hold" and an average target price of $87.20.

Monarch Casino & Resort Price Performance

NASDAQ MCRI traded down $0.65 on Thursday, reaching $80.48. The company had a trading volume of 111,717 shares, compared to its average volume of 111,259. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 16.26 and a beta of 1.74. Monarch Casino & Resort, Inc. has a fifty-two week low of $64.50 and a fifty-two week high of $96.11. The business has a 50 day moving average of $86.66 and a two-hundred day moving average of $82.19.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share 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.