Jacobs Levy Equity Management Inc. Acquires Shares of 75,935 Monarch Casino & Resort, Inc. $MCRI

Key Points

• Jacobs Levy Equity Management Inc. has acquired 75,935 shares of Monarch Casino & Resort, valued at approximately $5.9 million, increasing their stake to 0.41% as of the latest reporting period.
• Several large investors, including TD Private Client Wealth LLC and CWM LLC, have significantly increased their stakes in Monarch Casino & Resort during the first quarter.
• Analysts have varied opinions on Monarch Casino & Resort, with one Buy rating and four Hold ratings, while the stock currently holds a consensus rating of "Hold" with an average target price of $93.20.

Jacobs Levy Equity Management Inc. acquired a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 75,935 shares of the company's stock, valued at approximately $5,904,000. Jacobs Levy Equity Management Inc. owned about 0.41% of Monarch Casino & Resort at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC boosted its stake in 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 acquiring an additional 159 shares during the last quarter. Vestcor Inc bought a new position in Monarch Casino & Resort during the 1st quarter valued at $58,000. Meeder Asset Management Inc. boosted its stake in Monarch Casino & Resort by 45.3% during the 1st quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company's stock valued at $89,000 after acquiring an additional 355 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in Monarch Casino & Resort by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company's stock valued at $104,000 after acquiring an additional 666 shares during the last quarter. Finally, CWM LLC boosted its stake in Monarch Casino & Resort by 264.7% during the 1st quarter. CWM LLC now owns 1,827 shares of the company's stock valued at $142,000 after acquiring an additional 1,326 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on MCRI shares. Stifel Nicolaus increased their price objective on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Wall Street Zen raised shares of 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 shares of Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company raised shares of 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 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $93.20.

Monarch Casino & Resort Stock Up 0.2%

MCRI stock opened at $102.11 on Tuesday. Monarch Casino & Resort, Inc. has a fifty-two week low of $69.99 and a fifty-two week high of $113.88. The firm's 50-day simple moving average is $99.24 and its 200 day simple moving average is $87.87. The stock has a market cap of $1.87 billion, a PE ratio of 19.19 and a beta of 1.49.

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

Insider Transactions at Monarch Casino & Resort

In related news, Director Craig F. Sullivan sold 12,200 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Farahi sold 2,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 560,110 shares of the company's stock, valued at $59,248,435.80. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 25.52% of the company's stock.

Monarch Casino & Resort Company 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.

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