Raymond James Financial Inc. bought a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 77,540 shares of the company's stock, valued at approximately $6,118,000. Raymond James Financial Inc. owned about 0.42% of Monarch Casino & Resort as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCRI. Golden State Wealth Management LLC purchased a new position in Monarch Casino & Resort during the 4th quarter worth $53,000. KBC Group NV grew its holdings in shares of 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 buying an additional 396 shares during the last quarter. Independence Bank of Kentucky acquired a new position in Monarch Casino & Resort in the 4th quarter valued at about $93,000. Nisa Investment Advisors LLC increased its position in 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 acquiring an additional 400 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Monarch Casino & Resort by 49.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,760 shares of the company's stock valued at $218,000 after acquiring an additional 917 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company's stock.
Monarch Casino & Resort Trading Down 2.6 %
Shares of NASDAQ:MCRI traded down $2.09 on Friday, reaching $78.39. 93,378 shares of the company were exchanged, compared to its average volume of 117,014. The company has a 50-day moving average of $86.60 and a 200-day moving average of $82.18. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 15.84 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 1-year low of $64.50 and a 1-year high of $96.11.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same quarter last year, the company earned $1.03 EPS. As a group, analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on MCRI. Wells Fargo & Company boosted their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a report on Wednesday, February 12th. Jefferies Financial Group boosted their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a "hold" rating in a research note on Friday, January 3rd. StockNews.com downgraded shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Truist Financial upgraded shares of 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 research note on Tuesday, January 14th. Finally, Stifel Nicolaus raised 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. One equities 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $87.20.
Check Out Our Latest Report on MCRI
Insider Buying and Selling
In related news, CEO John Farahi sold 1,000 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the sale, the chief executive officer now directly owns 528,436 shares in the company, valued at $41,059,477.20. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.94% of the company's stock.
Monarch Casino & Resort Company Profile
(
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.
Recommended Stories
Before you consider Monarch Casino & Resort, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Monarch Casino & Resort wasn't on the list.
While Monarch Casino & Resort currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
