DAVENPORT & Co LLC Has $85.68 Million Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

DAVENPORT & Co LLC decreased its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,095,808 shares of the company's stock after selling 160,497 shares during the quarter. DAVENPORT & Co LLC owned about 5.93% of Monarch Casino & Resort worth $85,682,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MCRI. Golden State Wealth Management LLC grew its position in Monarch Casino & Resort by 100.0% in 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. Bessemer Group Inc. lifted its stake in shares of Monarch Casino & Resort by 1,700.8% in the 1st quarter. Bessemer Group Inc. now owns 2,125 shares of the company's stock valued at $165,000 after purchasing an additional 2,007 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Monarch Casino & Resort in the 4th quarter valued at $169,000. Bank of Montreal Can bought a new stake in Monarch Casino & Resort in the fourth quarter worth $202,000. Finally, Lazard Asset Management LLC increased its position in Monarch Casino & Resort by 33.4% during the fourth quarter. Lazard Asset Management LLC now owns 2,954 shares of the company's stock worth $233,000 after buying an additional 740 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MCRI shares. Stifel Nicolaus reduced their price target 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. Wall Street Zen lowered Monarch Casino & Resort from a "buy" rating to a "hold" rating in a report on Saturday. Truist Financial reduced their target price on Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Macquarie reaffirmed a "neutral" rating and set a $92.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $88.60.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ:MCRI traded up $0.19 during midday trading on Friday, hitting $89.63. The company's stock had a trading volume of 59,753 shares, compared to its average volume of 107,860. The stock's 50 day simple moving average is $83.29 and its 200 day simple moving average is $82.62. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 17.68 and a beta of 1.54. Monarch Casino & Resort, Inc. has a fifty-two week low of $66.20 and a fifty-two week high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. The firm had revenue of $125.39 million during the quarter, compared to the consensus estimate of $122.70 million. Monarch Casino & Resort had a return on equity of 18.53% and a net margin of 18.19%. As a group, analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

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.