6,598 Shares in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position 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 bought 6,598 shares of the company's stock, valued at approximately $521,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jane Street Group LLC lifted its stake in Monarch Casino & Resort by 518.8% in the third quarter. Jane Street Group LLC now owns 117,072 shares of the company's stock valued at $9,280,000 after buying an additional 98,153 shares during the period. Weiss Asset Management LP lifted its position in shares of Monarch Casino & Resort by 1,289.7% during the 3rd quarter. Weiss Asset Management LP now owns 79,212 shares of the company's stock valued at $6,279,000 after acquiring an additional 73,512 shares during the period. Verition Fund Management LLC bought a new position in Monarch Casino & Resort during the third quarter worth $2,349,000. Segall Bryant & Hamill LLC acquired a new stake in Monarch Casino & Resort in the third quarter worth $1,868,000. Finally, DAVENPORT & Co LLC increased its stake in Monarch Casino & Resort by 1.6% in the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company's stock valued at $98,696,000 after purchasing an additional 19,845 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.

Monarch Casino & Resort Stock Down 0.7 %

Monarch Casino & Resort stock traded down $0.59 during midday trading on Wednesday, reaching $88.79. The stock had a trading volume of 130,744 shares, compared to its average volume of 109,627. The firm has a market capitalization of $1.63 billion, a PE ratio of 17.94 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 12 month low of $64.50 and a 12 month high of $96.11. The firm's 50-day moving average price is $85.15 and its 200 day moving average price is $81.24.

Remove Ads

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the previous year, the business posted $1.03 EPS. Equities research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on MCRI shares. Jefferies Financial Group raised 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. StockNews.com downgraded Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Truist Financial upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating and increased their target price for the stock 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 $80.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company raised their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Monarch Casino & Resort currently has a consensus rating of "Hold" and an average price target of $87.20.

Insiders Place Their Bets

In other news, CEO John Farahi sold 1,000 shares of the company's stock in a transaction dated 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 directly owns 528,436 shares in the company, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 24.94% of the company's stock.

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.