Jacobs Levy Equity Management Inc. Acquires New Shares in 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 Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & 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 0.41% of Monarch Casino & Resort as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Private Client Wealth LLC raised 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 buying an additional 159 shares during the period. Vestcor Inc bought a new stake in Monarch Casino & Resort in the first quarter valued at approximately $58,000. Meeder Asset Management Inc. raised 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 buying an additional 355 shares during the period. Golden State Wealth Management LLC raised 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 buying an additional 666 shares during the period. Finally, CWM LLC raised 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 buying an additional 1,326 shares during the period. Institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI traded down $0.38 during trading hours on Friday, reaching $104.10. 155,299 shares of the company were exchanged, compared to its average volume of 81,769. The company has a market capitalization of $1.90 billion, a P/E ratio of 19.57 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. The business has a 50 day moving average of $100.35 and a 200 day moving average of $88.24.

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 for the quarter, beating analysts' consensus estimates of $1.22 by $0.22. The firm had revenue of $136.91 million for 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%. As a group, equities research analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the firm's 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 sale, the chief executive officer owned 560,110 shares of the company's stock, valued at approximately $59,248,435.80. This trade represents a 0.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Craig F. Sullivan sold 12,200 shares of the firm's stock in a transaction 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 disclosure for this sale can be found here. Company insiders own 25.52% of the company's stock.

Analyst Upgrades and Downgrades

MCRI has been the topic of several research analyst reports. Truist Financial upped their price objective on 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. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Finally, 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. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Monarch Casino & Resort currently has an average rating of "Hold" and a consensus price target of $93.20.

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.