Monarch Casino & Resort, Inc. $MCRI Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Monarch Casino & Resort by 9.1%, selling 8,180 shares during the first quarter, resulting in ownership of 81,585 shares valued at approximately $6.34 million.
• Several institutional investors have increased their holdings in Monarch Casino, with TD Private Client Wealth LLC leading with a 72.6% increase in shares.
• Monarch Casino reported earnings of $1.44 per share for the recent quarter, exceeding analyst expectations, and had total revenue of $136.91 million.

Goldman Sachs Group Inc. lessened its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,585 shares of the company's stock after selling 8,180 shares during the period. Goldman Sachs Group Inc. owned approximately 0.44% of Monarch Casino & Resort worth $6,343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Monarch Casino & Resort by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,028,325 shares of the company's stock valued at $79,952,000 after purchasing an additional 24,616 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Monarch Casino & Resort by 10.5% in the 1st quarter. American Century Companies Inc. now owns 446,600 shares of the company's stock valued at $34,723,000 after purchasing an additional 42,527 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Monarch Casino & Resort by 40.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 343,565 shares of the company's stock valued at $26,712,000 after purchasing an additional 98,371 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Monarch Casino & Resort by 10.9% in the 1st quarter. Wellington Management Group LLP now owns 233,513 shares of the company's stock valued at $18,156,000 after purchasing an additional 23,010 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Monarch Casino & Resort by 147.1% in the 1st quarter. Invesco Ltd. now owns 222,770 shares of the company's stock valued at $17,320,000 after purchasing an additional 132,599 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research lowered Monarch Casino & Resort from a "strong-buy" rating to a "hold" rating in a research note on Monday. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Wells Fargo & Company raised Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $83.00 to $89.00 in a research note on Thursday, July 17th. Truist Financial upped their price target on Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, Stifel Nicolaus upped their price target on Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Monarch Casino & Resort currently has an average rating of "Hold" and a consensus target price of $93.20.

Insider Activity at Monarch Casino & Resort

In other news, Director Craig F. Sullivan sold 12,200 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $105.55, for a total value of $1,287,710.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $105.78, for a total value of $211,560.00. Following the transaction, the chief executive officer directly 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 disclosure for this sale can be found here. 25.52% of the stock is owned by company insiders.

Monarch Casino & Resort Trading Down 1.0%

Shares of MCRI traded down $1.04 during mid-day trading on Friday, hitting $101.53. The company's stock had a trading volume of 29,525 shares, compared to its average volume of 109,263. The firm has a 50-day simple moving average of $101.36 and a 200 day simple moving average of $88.55. The firm has a market capitalization of $1.85 billion, a P/E ratio of 19.08 and a beta of 1.49. Monarch Casino & Resort, Inc. has a 1-year low of $69.99 and a 1-year high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, beating the consensus estimate 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 return on equity of 18.99% and a net margin of 18.70%. As a group, sell-side analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS 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.