Eagle Asset Management Inc. Sells 23,452 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Eagle Asset Management Inc. lowered its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 24.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,269 shares of the company’s stock after selling 23,452 shares during the period. Eagle Asset Management Inc. owned approximately 0.40% of Monarch Casino & Resort worth $6,152,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Intech Investment Management LLC bought a new stake in Monarch Casino & Resort in the 3rd quarter valued at about $444,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Monarch Casino & Resort by 141.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,736 shares of the company’s stock valued at $613,000 after purchasing an additional 4,528 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Monarch Casino & Resort in the 3rd quarter valued at about $1,868,000. Victory Capital Management Inc. raised its position in shares of Monarch Casino & Resort by 58.9% in the 3rd quarter. Victory Capital Management Inc. now owns 8,462 shares of the company’s stock valued at $671,000 after buying an additional 3,138 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Monarch Casino & Resort in the 3rd quarter valued at approximately $309,000. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ MCRI opened at $84.42 on Monday. Monarch Casino & Resort, Inc. has a 52-week low of $62.03 and a 52-week high of $85.10. The firm has a 50 day moving average price of $78.72 and a two-hundred day moving average price of $73.36. The stock has a market cap of $1.55 billion, a P/E ratio of 18.68 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. The business had revenue of $137.87 million during the quarter, compared to analysts’ expectations of $134.50 million. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same period last year, the company posted $1.38 earnings per share. Analysts predict that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on MCRI. Stifel Nicolaus boosted their target price 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 boosted their target price on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 6th.

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.