Norges Bank bought a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 46,300 shares of the company's stock, valued at approximately $3,653,000. Norges Bank owned approximately 0.25% of Monarch Casino & Resort at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. DAVENPORT & Co LLC grew its position in Monarch Casino & Resort by 1.6% during the 4th quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company's stock worth $98,696,000 after purchasing an additional 19,845 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Monarch Casino & Resort by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company's stock worth $79,193,000 after buying an additional 9,234 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Monarch Casino & Resort by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company's stock valued at $72,488,000 after buying an additional 72,764 shares in the last quarter. American Century Companies Inc. raised its position in Monarch Casino & Resort by 9.3% during the fourth quarter. American Century Companies Inc. now owns 404,073 shares of the company's stock valued at $31,881,000 after buying an additional 34,384 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Monarch Casino & Resort by 3.9% in the 3rd 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. Hedge funds and other institutional investors own 62.37% of the company's stock.
Monarch Casino & Resort Stock Performance
Shares of Monarch Casino & Resort stock traded up $1.12 during midday trading on Tuesday, reaching $75.12. 39,844 shares of the company's stock traded hands, compared to its average volume of 118,102. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 15.18 and a beta of 1.57. Monarch Casino & Resort, Inc. has a 52 week low of $64.50 and a 52 week high of $96.11. The company's 50 day simple moving average is $83.96 and its 200 day simple moving average is $82.14.
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 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 quarter last year, the company earned $1.03 EPS. As a group, equities research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.
Analyst Upgrades and Downgrades
MCRI has been the topic of several research analyst reports. Wells Fargo & Company lifted their target price 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. Stifel Nicolaus boosted 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 report on Wednesday, February 12th. Jefferies Financial Group increased their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a research report on Friday, January 3rd. Truist Financial upgraded shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating and boosted their price target for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. Finally, StockNews.com lowered Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $87.20.
Get Our Latest Research Report on MCRI
Monarch Casino & Resort Company 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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