Ieq Capital LLC bought a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,702 shares of the company's stock, valued at approximately $366,000.
Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Monarch Casino & Resort by 2.5% in the first 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 period. American Century Companies Inc. boosted its position in Monarch Casino & Resort by 10.5% during the first quarter. American Century Companies Inc. now owns 446,600 shares of the company's stock worth $34,723,000 after acquiring an additional 42,527 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Monarch Casino & Resort by 40.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 343,565 shares of the company's stock worth $26,712,000 after acquiring an additional 98,371 shares during the last quarter. Wellington Management Group LLP boosted its position in Monarch Casino & Resort by 10.9% during the first quarter. Wellington Management Group LLP now owns 233,513 shares of the company's stock worth $18,156,000 after acquiring an additional 23,010 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Monarch Casino & Resort by 147.1% during the first quarter. Invesco Ltd. now owns 222,770 shares of the company's stock worth $17,320,000 after acquiring an additional 132,599 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on MCRI shares. Wells Fargo & Company upgraded shares of Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $83.00 to $89.00 in a research report on Thursday, July 17th. Stifel Nicolaus boosted 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 report on Thursday, July 17th. Truist Financial boosted 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 report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of 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 given a Hold rating to the company's stock. According to MarketBeat, Monarch Casino & Resort presently has an average rating of "Hold" and an average target price of $93.20.
Check Out Our Latest Stock Report on Monarch Casino & Resort
Insider Transactions at Monarch Casino & Resort
In other news, Director Craig F. Sullivan sold 12,200 shares of the business's stock in a transaction that occurred on 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 shares were sold at an average price of $105.78, for a total transaction of $211,560.00. Following the completion of the sale, the chief executive officer directly owned 560,110 shares in the company, valued at $59,248,435.80. This trade 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 insiders.
Monarch Casino & Resort Trading Up 2.0%
MCRI stock traded up $2.08 during trading on Thursday, reaching $104.48. 54,066 shares of the stock were exchanged, compared to its average volume of 82,892. The business has a 50 day moving average price of $100.06 and a 200-day moving average price of $88.17. Monarch Casino & Resort, Inc. has a 1 year low of $69.99 and a 1 year high of $113.88. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 19.64 and a beta of 1.49.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, topping 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 company had revenue of $136.91 million for the quarter, compared to the consensus estimate of $129.76 million. On average, research analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.
Monarch Casino & Resort Company Profile
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Free Report)
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.
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