Renaissance Technologies LLC increased its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,000 shares of the company's stock after purchasing an additional 9,600 shares during the period. Renaissance Technologies LLC owned approximately 0.75% of Monarch Casino & Resort worth $10,888,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in Monarch Casino & Resort during the fourth quarter worth about $53,000. KBC Group NV raised its position in shares of Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company's stock valued at $77,000 after acquiring an additional 396 shares during the period. Independence Bank of Kentucky bought a new position in Monarch Casino & Resort during the 4th quarter worth approximately $93,000. Nisa Investment Advisors LLC grew its holdings in Monarch Casino & Resort by 30.9% during the fourth 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 during the period. Finally, Bank of Montreal Can bought a new stake in Monarch Casino & Resort in the fourth quarter valued at approximately $202,000. Institutional investors own 62.37% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on MCRI shares. StockNews.com cut shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Jefferies Financial Group lifted 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 increased their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a report on Wednesday, February 12th. Truist Financial raised 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. Finally, Stifel Nicolaus increased their target price on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Monarch Casino & Resort has an average rating of "Hold" and a consensus price target of $87.20.
Read Our Latest Stock Report on MCRI
Monarch Casino & Resort Trading Up 3.1 %
Shares of Monarch Casino & Resort stock traded up $2.30 during trading on Tuesday, reaching $76.03. The stock had a trading volume of 141,538 shares, compared to its average volume of 118,124. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 15.36 and a beta of 1.57. The stock has a fifty day moving average price of $82.36 and a two-hundred day moving average price of $82.00. Monarch Casino & Resort, Inc. has a 52 week low of $64.58 and a 52 week high of $96.11.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. On average, equities analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.
Monarch Casino & Resort Profile
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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.
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