Jane Street Group LLC Increases Stock Holdings in Monarch Casino & Resort, Inc. $MCRI

Key Points

• Jane Street Group LLC increased its holdings in Monarch Casino & Resort, Inc. by 12.2% in Q1, owning approximately $12.16 million worth of shares.
• Insider trading activity included CEO John Farahi selling 2,000 shares, while director Craig F. Sullivan sold 12,200 shares, reflecting a decrease in their holdings.
• Analysts have revised their ratings on Monarch Casino & Resort, with several upgrading their price targets, resulting in a consensus rating of "Hold" and a price target of $93.20.

Jane Street Group LLC increased its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 12.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,346 shares of the company's stock after acquiring an additional 17,027 shares during the quarter. Jane Street Group LLC owned about 0.85% of Monarch Casino & Resort worth $12,156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Petrus Trust Company LTA purchased a new stake in Monarch Casino & Resort in the first quarter worth $217,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Monarch Casino & Resort by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,618 shares of the company's stock valued at $592,000 after buying an additional 316 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Monarch Casino & Resort during the first quarter valued at $5,904,000. AQR Capital Management LLC lifted its position in Monarch Casino & Resort by 36.0% during the first quarter. AQR Capital Management LLC now owns 57,731 shares of the company's stock valued at $4,489,000 after buying an additional 15,295 shares during the period. Finally, Trexquant Investment LP lifted its position in Monarch Casino & Resort by 726.4% during the first quarter. Trexquant Investment LP now owns 37,289 shares of the company's stock valued at $2,899,000 after buying an additional 32,777 shares during the period. Hedge funds and other institutional investors own 62.37% of the company's stock.

Insider Activity

In related news, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $105.78, for a total value of $211,560.00. Following the completion of the sale, the chief executive officer directly owned 560,110 shares in the company, valued at approximately $59,248,435.80. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig F. Sullivan sold 12,200 shares of Monarch Casino & Resort stock in a transaction dated Tuesday, July 22nd. The stock was 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. 25.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on MCRI shares. Stifel Nicolaus raised their price objective 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. Truist Financial raised their price objective on Monarch Casino & Resort from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. 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 lifted their price target for the stock 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $93.20.

Monarch Casino & Resort Stock Performance

NASDAQ MCRI opened at $101.70 on Tuesday. Monarch Casino & Resort, Inc. has a one year low of $69.99 and a one year high of $113.88. The stock has a 50-day moving average of $100.60 and a 200 day moving average of $88.29. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 19.12 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 EPS for the quarter, topping 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 company had revenue of $136.91 million during the quarter, compared to the consensus estimate of $129.76 million. On average, equities 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.

Want to see what other hedge funds are holding MCRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.