Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Acquired by Royce & Associates LP

Royce & Associates LP raised its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 4.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 19,595 shares of the company’s stock after buying an additional 825 shares during the period. Royce & Associates LP’s holdings in Monarch Casino & Resort were worth $1,546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCRI. DAVENPORT & Co LLC grew its position in shares of Monarch Casino & Resort by 1.6% during the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company’s stock worth $98,696,000 after buying an additional 19,845 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Monarch Casino & Resort by 0.9% during the 3rd quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock valued at $30,809,000 after acquiring an additional 3,488 shares during the last quarter. Wellington Management Group LLP grew its holdings in Monarch Casino & Resort by 3.9% during the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after acquiring an additional 8,283 shares in the last quarter. FMR LLC increased its position in shares of Monarch Casino & Resort by 1.1% in the 3rd quarter. FMR LLC now owns 134,098 shares of the company’s stock worth $10,630,000 after purchasing an additional 1,396 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Monarch Casino & Resort by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 118,512 shares of the company’s stock valued at $9,351,000 after purchasing an additional 5,674 shares in the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Price Performance

Shares of MCRI opened at $81.17 on Friday. Monarch Casino & Resort, Inc. has a 12 month low of $64.50 and a 12 month high of $96.11. The stock has a fifty day moving average price of $86.63 and a 200 day moving average price of $81.98. The company has a market cap of $1.50 billion, a P/E ratio of 16.40 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same quarter in the prior year, the business earned $1.03 earnings per share. As a group, research analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MCRI has been the subject of several research analyst reports. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their price objective for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. Jefferies Financial Group upped their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research report 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 Wednesday, February 12th. Wells Fargo & Company increased their target price on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus raised 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 report on Wednesday, February 12th. One 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 MarketBeat, Monarch Casino & Resort currently has an average rating of “Hold” and a consensus target price of $87.20.

Insiders Place Their Bets

In other news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the sale, the chief executive officer now owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 24.94% of the stock is owned by insiders.

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.