4,104 Shares in Monarch Casino & Resort, Inc. $MCRI Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC made a new investment in Monarch Casino & Resort totaling approximately $319,000 by purchasing 4,104 shares in the first quarter.
• Various institutional investors, including TD Private Client Wealth and CWM LLC, have significantly increased their stakes in Monarch Casino & Resort, indicating a growing interest.
• Monarch Casino & Resort reported earnings of $1.44 per share in its latest quarterly results, surpassing analyst expectations, and its stock has seen a 12-month high of $113.88.

Hsbc Holdings PLC bought a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,104 shares of the company's stock, valued at approximately $319,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Private Client Wealth LLC raised its position in shares of Monarch Casino & Resort by 72.6% during the 1st quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock valued at $29,000 after buying an additional 159 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Monarch Casino & Resort by 3.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company's stock valued at $526,000 after purchasing an additional 254 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Monarch Casino & Resort by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,302 shares of the company's stock worth $576,000 after purchasing an additional 273 shares during the period. Heritage Family Offices LLP increased its holdings in shares of Monarch Casino & Resort by 9.3% in the 1st quarter. Heritage Family Offices LLP now owns 3,271 shares of the company's stock valued at $254,000 after purchasing an additional 278 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Monarch Casino & Resort by 1.1% during the first quarter. Rhumbline Advisers now owns 29,525 shares of the company's stock worth $2,296,000 after buying an additional 322 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.

Insider Activity at Monarch Casino & Resort

In related news, Director Craig F. Sullivan sold 12,200 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $105.55, for a total value of $1,287,710.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John Farahi sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $105.78, for a total transaction of $211,560.00. Following the completion of the transaction, the chief executive officer owned 560,110 shares in the company, valued at $59,248,435.80. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders own 25.52% of the company's stock.

Analysts Set New Price Targets

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

Monarch Casino & Resort Trading Up 0.1%

Shares of NASDAQ:MCRI traded up $0.12 during mid-day trading on Monday, reaching $102.00. The stock had a trading volume of 65,937 shares, compared to its average volume of 110,424. The business's 50 day moving average price is $98.93 and its 200 day moving average price is $87.78. Monarch Casino & Resort, Inc. has a 1 year low of $69.99 and a 1 year high of $113.88. The company has a market cap of $1.86 billion, a P/E ratio of 19.17 and a beta of 1.49.

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

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.