Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Acquired by AdvisorShares Investments LLC

AdvisorShares Investments LLC increased its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 85.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,060 shares of the company's stock after buying an additional 5,540 shares during the period. AdvisorShares Investments LLC owned 0.07% of Monarch Casino & Resort worth $952,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its stake in Monarch Casino & Resort by 0.8% in the fourth quarter. Alliancebernstein L.P. now owns 15,381 shares of the company's stock worth $1,214,000 after purchasing an additional 121 shares during the last quarter. Heritage Family Offices LLP increased its stake in shares of Monarch Casino & Resort by 7.0% in the 4th 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 raised 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 valued at $1,949,000 after buying an additional 210 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Monarch Casino & Resort by 2.6% in 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 in the last quarter. Finally, State of Tennessee Department of Treasury lifted its holdings in shares of Monarch Casino & Resort by 3.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 12,223 shares of the company's stock valued at $964,000 after purchasing an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Stock Up 1.4 %

MCRI traded up $1.07 on Friday, reaching $79.26. 65,098 shares of the company traded hands, compared to its average volume of 117,960. The company has a market cap of $1.46 billion, a P/E ratio of 16.01 and a beta of 1.57. The firm has a fifty day simple moving average of $80.13 and a two-hundred day simple moving average of $82.09. Monarch Casino & Resort, Inc. has a one year low of $64.58 and a one year high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $125.39 million during the quarter, compared to the consensus estimate of $122.70 million. On average, equities analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.