Trust Point Inc. Sells 5,349 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Trust Point Inc. reduced its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 48.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,659 shares of the company's stock after selling 5,349 shares during the quarter. Trust Point Inc.'s holdings in Monarch Casino & Resort were worth $446,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new position in shares of Monarch Casino & Resort during the 3rd quarter valued at $30,000. GAMMA Investing LLC grew its stake in Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company's stock valued at $37,000 after acquiring an additional 178 shares during the period. KBC Group NV increased 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 valued at $77,000 after acquiring an additional 396 shares in the last quarter. Independence Bank of Kentucky acquired a new position in shares of Monarch Casino & Resort during the fourth quarter worth approximately $93,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Monarch Casino & Resort by 30.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company's stock worth $134,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 62.37% of the company's stock.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the firm'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 sale, the chief executive officer now directly owns 528,436 shares of the company's stock, valued at $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 24.94% of the company's stock.

Monarch Casino & Resort Stock Performance

NASDAQ MCRI traded down $0.87 during trading on Friday, hitting $85.91. 97,982 shares of the company's stock traded hands, compared to its average volume of 76,687. The business has a 50 day moving average of $82.61 and a 200-day moving average of $79.20. Monarch Casino & Resort, Inc. has a 12-month low of $64.50 and a 12-month high of $89.06. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 19.01 and a beta of 1.74.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a "hold" rating in a report on Thursday, October 24th. Wells Fargo & Company initiated coverage on Monarch Casino & Resort in a report on Monday, December 16th. They set an "underweight" rating and a $79.00 price target for the company. Jefferies Financial Group raised their price objective on 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 report on Tuesday, February 4th. Finally, Truist Financial raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating and upped their price objective for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Monarch Casino & Resort currently has an average rating of "Hold" and a consensus target price of $84.00.

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.