Cubist Systematic Strategies LLC Trims Holdings in Monarch Casino & Resort, Inc. $MCRI

Cubist Systematic Strategies LLC reduced its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 58.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,993 shares of the company's stock after selling 32,917 shares during the period. Cubist Systematic Strategies LLC owned about 0.12% of Monarch Casino & Resort worth $1,788,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its holdings in shares of Monarch Casino & Resort by 3.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company's stock valued at $526,000 after acquiring an additional 254 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Monarch Casino & Resort in the 1st quarter valued at $319,000. GHP Investment Advisors Inc. boosted its holdings in shares of Monarch Casino & Resort by 45.6% in the 1st quarter. GHP Investment Advisors Inc. now owns 11,075 shares of the company's stock valued at $861,000 after acquiring an additional 3,467 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Monarch Casino & Resort by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company's stock valued at $104,000 after acquiring an additional 666 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of Monarch Casino & Resort by 9.2% in the 1st quarter. Raymond James Financial Inc. now owns 84,655 shares of the company's stock valued at $6,582,000 after acquiring an additional 7,115 shares during the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 2,000 shares of the company's stock in a transaction dated 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 represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Craig F. Sullivan sold 12,200 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $105.55, for a total transaction of $1,287,710.00. The disclosure for this sale can be found here. Corporate insiders own 25.52% of the company's stock.

Monarch Casino & Resort Trading Down 0.4%

NASDAQ:MCRI traded down $0.38 during trading hours on Friday, reaching $104.10. 155,299 shares of the company were exchanged, compared to its average volume of 81,769. The stock's 50-day moving average is $100.35 and its 200-day moving average is $88.26. The firm has a market cap of $1.90 billion, a PE ratio of 19.57 and a beta of 1.49. Monarch Casino & Resort, Inc. has a twelve month low of $69.99 and a twelve month high of $113.88.

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