Dark Forest Capital Management LP Takes Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Dark Forest Capital Management LP bought a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,122 shares of the company's stock, valued at approximately $325,000.

Several other hedge funds also recently made changes to their positions in MCRI. Golden State Wealth Management LLC bought a new position in Monarch Casino & Resort during the 4th quarter worth $53,000. KBC Group NV grew its holdings in shares of Monarch Casino & Resort by 67.8% during the 4th quarter. KBC Group NV now owns 980 shares of the company's stock worth $77,000 after purchasing an additional 396 shares in the last quarter. Independence Bank of Kentucky bought a new position in shares of Monarch Casino & Resort in the fourth quarter worth $93,000. Nisa Investment Advisors LLC raised its stake 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 valued at $134,000 after purchasing an additional 400 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Monarch Casino & Resort during the fourth quarter worth about $202,000. 62.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MCRI shares. Truist Financial dropped their target price on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. StockNews.com cut Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Macquarie reiterated a "neutral" rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Stifel Nicolaus dropped their price objective on Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research report on Wednesday, February 12th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $88.60.

Monarch Casino & Resort Price Performance

Shares of NASDAQ MCRI traded up $1.07 during mid-day trading on Friday, hitting $79.26. 65,098 shares of the stock traded hands, compared to its average volume of 117,960. The company has a market cap of $1.46 billion, a PE ratio of 16.01 and a beta of 1.57. Monarch Casino & Resort, Inc. has a twelve month low of $64.58 and a twelve month high of $96.11. The firm has a 50 day simple moving average of $80.13 and a two-hundred day simple moving average of $82.09.

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

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.