4,815 Shares in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Bought by Magnetar Financial LLC

Magnetar Financial LLC bought a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,815 shares of the company’s stock, valued at approximately $380,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Heritage Family Offices LLP boosted its stake in Monarch Casino & Resort by 7.0% during the fourth quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock worth $236,000 after acquiring an additional 196 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Monarch Casino & Resort by 0.9% during the fourth quarter. New York State Teachers Retirement System now owns 24,706 shares of the company’s stock worth $1,949,000 after acquiring an additional 210 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Monarch Casino & Resort by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company’s stock worth $785,000 after buying an additional 250 shares during the last quarter. KBC Group NV raised its holdings in Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock worth $77,000 after buying an additional 396 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Monarch Casino & Resort by 30.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after buying an additional 400 shares during the last quarter. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $81.19 on Friday. The firm has a 50-day moving average of $86.69 and a 200-day moving average of $82.07. 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, Inc. has a one year low of $64.50 and a one year high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Tuesday, February 11th. The company reported $1.36 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 period in the prior year, the company earned $1.03 earnings per share. As a group, research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 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 trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.94% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on MCRI shares. Truist Financial upgraded 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 report on Tuesday, January 14th. Jefferies Financial Group upped their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company upped their price objective 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. Stifel Nicolaus upped their price objective on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Finally, StockNews.com downgraded shares of 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 issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $87.20.

Monarch Casino & Resort Company 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.