20,091 Shares in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Purchased by Quantedge Capital Pte Ltd

Quantedge Capital Pte Ltd acquired a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 20,091 shares of the company's stock, valued at approximately $1,585,000. Quantedge Capital Pte Ltd owned about 0.11% of Monarch Casino & Resort at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Golden State Wealth Management LLC bought a new position in Monarch Casino & Resort during the 4th quarter worth $53,000. KBC Group NV raised its position in shares of Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company's stock worth $77,000 after acquiring an additional 396 shares in the last quarter. Independence Bank of Kentucky bought a new stake in Monarch Casino & Resort in the fourth quarter worth approximately $93,000. Nisa Investment Advisors LLC grew its holdings in Monarch Casino & Resort by 30.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company's stock worth $134,000 after purchasing an additional 400 shares during the period. Finally, Bank of Montreal Can acquired a new position in Monarch Casino & Resort during the 4th quarter worth approximately $202,000. Institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Stock Up 0.2%

Shares of NASDAQ:MCRI opened at $82.46 on Thursday. The firm's 50 day moving average price is $78.63 and its 200-day moving average price is $82.29. The stock has a market capitalization of $1.52 billion, a PE ratio of 16.66 and a beta of 1.59. Monarch Casino & Resort, Inc. has a twelve month low of $64.58 and a twelve month high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. The business had revenue of $125.39 million for the quarter, compared to analysts' expectations of $122.70 million. Analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Macquarie reaffirmed a "neutral" rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Truist Financial lowered their price target on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. StockNews.com lowered Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus decreased their price target on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $88.60.

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.

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