SkyOak Wealth LLC Takes Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

SkyOak Wealth LLC purchased a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,648 shares of the company's stock, valued at approximately $288,000.

Several other institutional investors have also modified their holdings of MCRI. Financial Management Professionals Inc. purchased a new position in Monarch Casino & Resort in the 3rd quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company's stock worth $37,000 after buying an additional 178 shares during the period. KBC Group NV grew its holdings in shares of Monarch Casino & Resort by 67.8% during 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 in the last quarter. Independence Bank of Kentucky acquired a new stake in shares of Monarch Casino & Resort in the 4th quarter valued at $93,000. Finally, Nisa Investment Advisors LLC boosted 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 acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 62.37% of the company's stock.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock traded up $0.34 during trading on Thursday, hitting $86.78. 79,913 shares of the company's stock traded hands, compared to its average volume of 87,221. The company has a market cap of $1.60 billion, a PE ratio of 19.20 and a beta of 1.74. Monarch Casino & Resort, Inc. has a twelve month low of $64.50 and a twelve month high of $89.06. The firm's fifty day moving average price is $82.57 and its 200 day moving average price is $79.02.

Analyst Ratings Changes

A number of research firms have recently commented on MCRI. Jefferies Financial Group increased their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a research note on Friday, January 3rd. StockNews.com lowered shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Truist Financial raised Monarch Casino & Resort from a "hold" rating to a "buy" rating and upped their target price for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. Stifel Nicolaus boosted their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a "hold" rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company started coverage on Monarch Casino & Resort in a research note on Monday, December 16th. They issued an "underweight" rating and a $79.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $84.00.

Insider Activity at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the company'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 directly owns 528,436 shares in the company, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 24.94% of the stock is currently owned by insiders.

Monarch Casino & Resort Profile

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.