Strs Ohio Purchases New Holdings in Monarch Casino & Resort, Inc. $MCRI

Key Points

• Strs Ohio has purchased a total of 7,800 shares in Monarch Casino & Resort, Inc., valued at approximately $606,000.
• CEO John Farahi and Director Craig F. Sullivan have sold shares recently, with Farahi unloading 2,000 shares for around $211,560 and Sullivan selling 12,200 shares totaling approximately $1.29 million.
• Analysts have mixed ratings on Monarch Casino, with some upgrades to a "buy" rating from Wall Street Zen, while Zacks Research downgraded it to a "hold" rating.

Strs Ohio purchased a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,800 shares of the company's stock, valued at approximately $606,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Private Client Wealth LLC boosted its position in shares of Monarch Casino & Resort by 72.6% in the 1st quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock worth $29,000 after purchasing an additional 159 shares during the last quarter. Vestcor Inc bought a new position in Monarch Casino & Resort during the first quarter worth about $58,000. Meeder Asset Management Inc. lifted its holdings in Monarch Casino & Resort by 45.3% during the first quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company's stock worth $89,000 after acquiring an additional 355 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Monarch Casino & Resort by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company's stock worth $104,000 after acquiring an additional 666 shares in the last quarter. Finally, CWM LLC lifted its holdings in Monarch Casino & Resort by 264.7% during the first quarter. CWM LLC now owns 1,827 shares of the company's stock worth $142,000 after acquiring an additional 1,326 shares in the last quarter. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Stock Performance

MCRI traded up $1.17 during trading on Tuesday, reaching $104.39. 22,585 shares of the stock were exchanged, compared to its average volume of 110,185. The stock's 50 day moving average price is $101.99 and its two-hundred day moving average price is $88.76. Monarch Casino & Resort, Inc. has a twelve month low of $69.99 and a twelve month high of $113.88. The stock has a market cap of $1.91 billion, a P/E ratio of 19.62 and a beta of 1.49.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.22. The company had revenue of $136.91 million during the quarter, compared to the consensus estimate of $129.76 million. Monarch Casino & Resort had a net margin of 18.70% and a return on equity of 18.99%. Equities research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on MCRI shares. Zacks Research lowered Monarch Casino & Resort from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Wells Fargo & Company raised Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $83.00 to $89.00 in a research note on Thursday, July 17th. Stifel Nicolaus lifted their price target on Monarch Casino & Resort from $81.00 to $92.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Finally, Truist Financial lifted their price target on Monarch Casino & Resort from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $93.20.

Insider Buying and Selling

In other news, Director Craig F. Sullivan sold 12,200 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $105.55, for a total transaction of $1,287,710.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Farahi sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $105.78, for a total value of $211,560.00. Following the completion of the sale, the chief executive officer owned 560,110 shares of the company's stock, valued at approximately $59,248,435.80. This trade represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 25.52% of the company's stock.

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.