Fuller & Thaler Asset Management Inc. Raises Stake in Monarch Casino & Resort, Inc. $MCRI

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Monarch Casino & Resort by 40.1% during the first quarter, acquiring an additional 98,371 shares to own approximately 1.86% of the company.
• Recent analyst ratings have been mixed, with Truist Financial upgrading the stock to a "buy" rating and setting a price target of $105.00, while the consensus rating remains a "hold" with an average target of $93.20.
• CEO John Farahi sold 2,000 shares at an average price of $105.78, with insiders owning approximately 25.52% of the company's stock.

Fuller & Thaler Asset Management Inc. boosted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 40.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 343,565 shares of the company's stock after acquiring an additional 98,371 shares during the quarter. Fuller & Thaler Asset Management Inc. owned 1.86% of Monarch Casino & Resort worth $26,712,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MCRI. TD Private Client Wealth LLC increased its stake in Monarch Casino & Resort by 72.6% in the first quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock valued at $29,000 after purchasing an additional 159 shares during the last quarter. Vestcor Inc purchased a new position in Monarch Casino & Resort in the first quarter valued at approximately $58,000. Meeder Asset Management Inc. increased its stake in Monarch Casino & Resort by 45.3% in the first quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company's stock valued at $89,000 after purchasing an additional 355 shares during the last quarter. Golden State Wealth Management LLC increased its stake 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 valued at $104,000 after purchasing an additional 666 shares during the last quarter. Finally, CWM LLC increased its stake in Monarch Casino & Resort by 264.7% in the first quarter. CWM LLC now owns 1,827 shares of the company's stock valued at $142,000 after purchasing an additional 1,326 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $105.78, for a total transaction 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. The trade was a 0.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig F. Sullivan sold 12,200 shares of the business's stock in a transaction on 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. 25.52% of the stock is currently owned by insiders.

Monarch Casino & Resort Stock Down 0.7%

NASDAQ:MCRI traded down $0.7650 during midday trading on Monday, reaching $104.2250. The stock had a trading volume of 7,369 shares, compared to its average volume of 110,780. The firm has a fifty day simple moving average of $95.19 and a two-hundred day simple moving average of $86.87. Monarch Casino & Resort, Inc. has a 12-month low of $69.99 and a 12-month high of $113.88. The stock has a market cap of $1.90 billion, a P/E ratio of 19.59 and a beta of 1.56.

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