Monarch Casino & Resort, Inc. $MCRI Shares Sold by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners Inc. reduced its stake in Monarch Casino & Resort by 45.7%, selling 16,598 shares, and now owns 0.11% of the company valued at approximately $1.53 million.
• Institutional investors collectively own 62.37% of Monarch Casino & Resort, with several firms, including Vanguard and Invesco, increasing their holdings during the 1st quarter.
• Analysts have varied outlooks on the stock, with recent upgrades bringing the price target to between $89.00 and $105.00, while currently, the stock has an average rating of "Hold."

Epoch Investment Partners Inc. lessened its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 45.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,691 shares of the company's stock after selling 16,598 shares during the quarter. Epoch Investment Partners Inc. owned 0.11% of Monarch Casino & Resort worth $1,531,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MCRI. TD Private Client Wealth LLC lifted its holdings in shares of Monarch Casino & Resort by 72.6% in the 1st quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock worth $29,000 after acquiring an additional 159 shares during the last quarter. Vestcor Inc bought a new stake in shares of Monarch Casino & Resort in the 1st quarter worth about $58,000. Meeder Asset Management Inc. increased its stake in Monarch Casino & Resort by 45.3% in the 1st quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company's stock worth $89,000 after buying an additional 355 shares during the period. Golden State Wealth Management LLC increased its stake in 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 worth $104,000 after buying an additional 666 shares during the period. Finally, CWM LLC increased its stake in Monarch Casino & Resort by 264.7% in the 1st quarter. CWM LLC now owns 1,827 shares of the company's stock worth $142,000 after buying an additional 1,326 shares during the period. Institutional investors own 62.37% of the company's stock.

Wall Street Analysts Forecast Growth

MCRI has been the topic of several recent analyst reports. Stifel Nicolaus raised their price target on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Truist Financial raised their price target on shares of Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Finally, Wells Fargo & Company raised shares of Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $83.00 to $89.00 in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $93.20.

Monarch Casino & Resort Trading Down 0.8%

Shares of NASDAQ:MCRI traded down $0.79 during trading on Monday, reaching $104.33. The stock had a trading volume of 117,381 shares, compared to its average volume of 78,848. Monarch Casino & Resort, Inc. has a one year low of $69.99 and a one year high of $113.88. The company has a market capitalization of $1.91 billion, a P/E ratio of 19.61 and a beta of 1.49. The firm's 50-day simple moving average is $97.26 and its 200 day simple moving average is $87.43.

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

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 2,000 shares of the firm'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 sale, the chief executive officer directly owned 560,110 shares in the company, valued at approximately $59,248,435.80. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $1,287,710.00. The disclosure for this sale can be found here. 25.52% of the stock is currently owned by company insiders.

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.