Bank of America Corp DE Grows Stock Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Bank of America Corp DE raised its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 54.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,660 shares of the company's stock after buying an additional 16,154 shares during the period. Bank of America Corp DE owned about 0.25% of Monarch Casino & Resort worth $3,603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Monarch Casino & Resort in the fourth quarter worth $53,000. KBC Group NV lifted its stake in Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company's stock worth $77,000 after purchasing an additional 396 shares during the last quarter. Independence Bank of Kentucky purchased a new position in shares of Monarch Casino & Resort in the 4th quarter worth about $93,000. Nisa Investment Advisors LLC increased its position in shares of Monarch Casino & Resort by 30.9% during the 4th 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 during the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Monarch Casino & Resort during the 4th quarter valued at about $202,000. Hedge funds and other institutional investors own 62.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a report on Wednesday, February 12th. Truist Financial reduced their price objective on Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Macquarie reissued a "neutral" rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Stifel Nicolaus decreased their price target on Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $88.60.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ MCRI traded down $1.17 during trading hours on Wednesday, hitting $83.75. The company's stock had a trading volume of 49,644 shares, compared to its average volume of 115,135. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 16.92 and a beta of 1.59. Monarch Casino & Resort, Inc. has a 12 month low of $65.65 and a 12 month high of $96.11. The business has a 50-day simple moving average of $78.80 and a 200-day simple moving average of $82.47.

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

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.