Ritholtz Wealth Management acquired a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,223 shares of the company's stock, valued at approximately $254,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MCRI. HighTower Advisors LLC acquired a new stake in shares of Monarch Casino & Resort during the 3rd quarter valued at about $258,000. Barclays PLC raised its position in Monarch Casino & Resort by 108.2% during the third quarter. Barclays PLC now owns 33,508 shares of the company's stock valued at $2,656,000 after acquiring an additional 17,413 shares in the last quarter. Wellington Management Group LLP lifted its stake in Monarch Casino & Resort by 3.9% in the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company's stock valued at $17,410,000 after acquiring an additional 8,283 shares during the last quarter. Versor Investments LP bought a new stake in Monarch Casino & Resort in the third quarter worth approximately $230,000. Finally, Franklin Resources Inc. increased its stake in shares of Monarch Casino & Resort by 7.3% during the 3rd quarter. Franklin Resources Inc. now owns 8,822 shares of the company's stock worth $665,000 after purchasing an additional 597 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. StockNews.com lowered shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a "hold" rating in a research report on Thursday, October 24th. Truist Financial raised Monarch Casino & Resort from a "hold" rating to a "buy" rating and increased their price objective for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. Wells Fargo & Company began coverage on Monarch Casino & Resort in a report on Monday, December 16th. They issued an "underweight" rating and a $79.00 target price for the company. Finally, Jefferies Financial Group upped their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a research report on Friday, January 3rd. 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 stock. Based on data from MarketBeat.com, Monarch Casino & Resort currently has a consensus rating of "Hold" and an average price target of $84.00.
Check Out Our Latest Analysis on MCRI
Monarch Casino & Resort Price Performance
Shares of NASDAQ MCRI remained flat at $83.87 during trading hours on Thursday. The company had a trading volume of 78,510 shares, compared to its average volume of 100,994. The firm has a fifty day moving average of $82.26 and a 200-day moving average of $77.81. Monarch Casino & Resort, Inc. has a fifty-two week low of $64.50 and a fifty-two week high of $89.06. The stock has a market cap of $1.54 billion, a PE ratio of 18.56 and a beta of 1.73.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.10. The company had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same period in the previous year, the company earned $1.38 earnings per share. On average, research analysts predict that Monarch Casino & Resort, Inc. will post 4.73 earnings per share for the current year.
Insider Buying and Selling
In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the transaction, the chief executive officer now owns 528,436 shares of the company's stock, valued at $41,059,477.20. This represents a 0.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 24.94% of the stock is currently owned by insiders.
About Monarch Casino & Resort
(
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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