Credit Agricole S A Has $1.96 Million Position in Monarch Casino & Resort, Inc. $MCRI

Key Points

• Credit Agricole S A increased its stake in Monarch Casino & Resort by 50.3% during the first quarter, acquiring an additional 8,426 shares for a total of 25,190 shares valued at approximately $1,959,000.
• Several institutional investors are actively trading in Monarch Casino & Resort, with 62.37% of the company's stock owned by institutions and significant increases in holdings by firms like Fuller & Thaler Asset Management and Wellington Management.
• Monarch Casino & Resort reported earnings of $1.44 per share for the last quarter, exceeding estimates, while the stock price recently opened at $104.99, indicating a 2.6% increase.

Credit Agricole S A lifted its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 50.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,190 shares of the company's stock after acquiring an additional 8,426 shares during the quarter. Credit Agricole S A owned 0.14% of Monarch Casino & Resort worth $1,959,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MCRI. Invesco Ltd. boosted its stake in shares of Monarch Casino & Resort by 147.1% during the 1st quarter. Invesco Ltd. now owns 222,770 shares of the company's stock worth $17,320,000 after acquiring an additional 132,599 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Monarch Casino & Resort in the first quarter worth $9,872,000. Fuller & Thaler Asset Management Inc. boosted its position in shares of Monarch Casino & Resort by 40.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 343,565 shares of the company's stock worth $26,712,000 after buying an additional 98,371 shares during the period. GAMMA Investing LLC boosted its position in shares of Monarch Casino & Resort by 9,017.4% in the first quarter. GAMMA Investing LLC now owns 50,693 shares of the company's stock worth $3,941,000 after buying an additional 50,137 shares during the period. Finally, Emmett Investment Management LP acquired a new stake in shares of Monarch Casino & Resort in the fourth quarter worth $3,546,000. 62.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MCRI. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Wells Fargo & Company upgraded Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $83.00 to $89.00 in a report on Thursday, July 17th. Finally, Truist Financial increased their price objective on Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $93.20.

Insider Activity

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

Monarch Casino & Resort Trading Down 1.7%

NASDAQ MCRI traded down $1.82 during trading on Friday, hitting $103.01. 9,351 shares of the company traded hands, compared to its average volume of 109,825. Monarch Casino & Resort, Inc. has a 12 month low of $69.99 and a 12 month high of $113.88. The business has a fifty day simple moving average of $96.87 and a 200 day simple moving average of $87.39. The company has a market capitalization of $1.88 billion, a P/E ratio of 19.39 and a beta of 1.56.

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