Vanguard Group Inc. Increases Stock Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Vanguard Group Inc. boosted its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,003,709 shares of the company's stock after acquiring an additional 9,234 shares during the period. Vanguard Group Inc. owned about 5.46% of Monarch Casino & Resort worth $79,193,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. HighTower Advisors LLC purchased a new stake in shares of Monarch Casino & Resort during the 3rd quarter worth approximately $258,000. Barclays PLC lifted its position in Monarch Casino & Resort by 108.2% in 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 during the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in Monarch Casino & Resort in the fourth quarter valued at $1,516,000. Wellington Management Group LLP grew its holdings in shares of Monarch Casino & Resort by 3.9% during the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company's stock worth $17,410,000 after purchasing an additional 8,283 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Monarch Casino & Resort during the fourth quarter worth about $254,000. Hedge funds and other institutional investors own 62.37% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on MCRI shares. Stifel Nicolaus increased their price target on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price objective 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. Jefferies Financial Group lifted their target price 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. Truist Financial raised Monarch Casino & Resort from a "hold" rating to a "buy" rating and boosted their target price for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. Finally, StockNews.com downgraded Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a 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 given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $87.20.

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Monarch Casino & Resort Stock Performance

MCRI stock traded up $1.12 during trading on Tuesday, reaching $75.12. 39,844 shares of the company were exchanged, compared to its average volume of 118,102. The stock's 50 day moving average price is $83.96 and its 200 day moving average price is $82.14. Monarch Casino & Resort, Inc. has a 52-week low of $64.50 and a 52-week high of $96.11. The company has a market cap of $1.39 billion, a P/E ratio of 15.18 and a beta of 1.57.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 EPS for the quarter, topping 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 business posted $1.03 EPS. As a group, equities research analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

About Monarch Casino & Resort

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.