Wellington Management Group LLP Buys 8,283 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Wellington Management Group LLP boosted its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 219,625 shares of the company's stock after purchasing an additional 8,283 shares during the quarter. Wellington Management Group LLP owned about 1.19% of Monarch Casino & Resort worth $17,410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new stake in Monarch Casino & Resort in the third quarter valued at approximately $30,000. GAMMA Investing LLC grew its position in Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company's stock valued at $37,000 after purchasing an additional 178 shares during the period. Meeder Asset Management Inc. bought a new stake in Monarch Casino & Resort during the 2nd quarter valued at $53,000. Canada Pension Plan Investment Board acquired a new position in Monarch Casino & Resort during the second quarter worth $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Monarch Casino & Resort by 81.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company's stock worth $185,000 after buying an additional 1,221 shares during the last quarter. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Stock Down 0.4 %

MCRI stock traded down $0.32 during trading on Friday, reaching $87.24. The stock had a trading volume of 124,010 shares, compared to its average volume of 120,192. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 19.30 and a beta of 1.72. Monarch Casino & Resort, Inc. has a one year low of $64.50 and a one year high of $89.06. The company's 50 day moving average is $81.27 and its two-hundred day moving average is $75.37.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The business had revenue of $137.87 million for the quarter, compared to analysts' expectations of $134.50 million. During the same period in the previous year, the business posted $1.38 EPS. As a group, research analysts predict that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MCRI has been the topic of several recent research reports. Stifel Nicolaus raised 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. Truist Financial raised their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a "hold" rating in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded Monarch Casino & Resort from a "buy" rating to a "strong-buy" rating in a report on Thursday, November 28th.

Monarch Casino & Resort Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.