Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its position in shares of 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 Securities and Exchange Commission. The institutional investor owned 1,095,808 shares of the company's stock after selling 160,497 shares during the period. DAVENPORT & Co LLC owned 5.93% of Monarch Casino & Resort worth $85,682,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. LPL Financial LLC grew its position in shares of Monarch Casino & Resort by 47.0% in the fourth quarter. LPL Financial LLC now owns 6,737 shares of the company's stock valued at $532,000 after purchasing an additional 2,155 shares in the last quarter. GHP Investment Advisors Inc. grew its position in shares of Monarch Casino & Resort by 45.6% in the first quarter. GHP Investment Advisors Inc. now owns 11,075 shares of the company's stock valued at $861,000 after purchasing an additional 3,467 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at approximately $1,516,000. Deutsche Bank AG grew its position in shares of Monarch Casino & Resort by 45.3% in the fourth quarter. Deutsche Bank AG now owns 11,160 shares of the company's stock valued at $881,000 after purchasing an additional 3,477 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its position in shares of 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 valued at $104,000 after purchasing an additional 666 shares in the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on MCRI. Wall Street Zen upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Truist Financial dropped their price target on Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus dropped 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. Finally, Macquarie restated a "neutral" rating and issued a $92.00 price target 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, three have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $88.60.

Monarch Casino & Resort Price Performance

MCRI traded up $0.19 during trading hours on Thursday, reaching $89.63. The company's stock had a trading volume of 59,753 shares, compared to its average volume of 107,734. Monarch Casino & Resort, Inc. has a fifty-two week low of $65.94 and a fifty-two week high of $96.11. The stock has a market cap of $1.66 billion, a PE ratio of 17.68 and a beta of 1.54. The business's 50-day moving average is $83.05 and its 200-day moving average is $82.54.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.53% and a net margin of 18.19%. The firm had revenue of $125.39 million for the quarter, compared to analysts' expectations of $122.70 million. Analysts expect 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.