Monarch Casino & Resort, Inc. $MCRI Stock Position Increased by Jane Street Group LLC

Key Points

• Jane Street Group LLC increased its holdings in Monarch Casino & Resort by 12.2% during Q1, now owning 156,346 shares valued at approximately $12.16 million.
• Multiple institutional investors, including TD Private Client Wealth LLC and CWM LLC, significantly increased their positions in Monarch Casino & Resort in the same quarter.
• Wells Fargo upgraded Monarch Casino's rating to equal weight and raised the target price to $89, contributing to a prevailing consensus target price of $93.20.

Jane Street Group LLC lifted its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,346 shares of the company's stock after acquiring an additional 17,027 shares during the period. Jane Street Group LLC owned 0.85% of Monarch Casino & Resort worth $12,156,000 as of its most recent SEC filing.

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

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, Director Craig F. Sullivan sold 12,200 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $105.55, for a total transaction 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 company'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 sale, the chief executive officer directly owned 560,110 shares of the company's stock, valued at approximately $59,248,435.80. This represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 25.52% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on MCRI shares. Stifel Nicolaus upped 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. Wells Fargo & Company raised Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $83.00 to $89.00 in a research report on Thursday, July 17th. Wall Street Zen upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Finally, Truist Financial raised their target price on Monarch Casino & Resort from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $93.20.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI traded up $0.69 during mid-day trading on Thursday, reaching $102.87. The stock had a trading volume of 17,928 shares, compared to its average volume of 110,725. 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 capitalization of $1.88 billion, a price-to-earnings ratio of 19.34 and a beta of 1.49. The stock's 50 day simple moving average is $98.28 and its two-hundred day simple moving average is $87.71.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $1.44 earnings per share (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 firm had revenue of $136.91 million for the quarter, compared to analysts' expectations of $129.76 million. Sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS 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.