Jump Financial LLC Increases Stock Holdings in Monarch Casino & Resort, Inc. $MCRI

Key Points

• Jump Financial LLC increased its holdings in Monarch Casino & Resort, Inc. by 55.7% during the first quarter, owning 8,924 shares worth approximately $694,000.
• Monarch Casino recently received several analyst upgrades, including a raise in target price from Stifel Nicolaus to $92.00 and from Truist Financial to $105.00, with a consensus rating of "Hold."
• Monarch Casino reported a quarterly earnings per share (EPS) of $1.44, exceeding analysts' expectations of $1.22, with revenue reaching $136.91 million for the quarter.

Jump Financial LLC grew its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 55.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,924 shares of the company's stock after buying an additional 3,193 shares during the quarter. Jump Financial LLC's holdings in Monarch Casino & Resort were worth $694,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. TD Private Client Wealth LLC raised its position in shares of Monarch Casino & Resort by 72.6% in the first quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock worth $29,000 after acquiring an additional 159 shares during the period. Vestcor Inc acquired a new stake in shares of Monarch Casino & Resort in the first quarter valued at about $58,000. Meeder Asset Management Inc. increased its stake in shares of Monarch Casino & Resort by 45.3% during the first quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company's stock worth $89,000 after purchasing an additional 355 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of 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 worth $104,000 after purchasing an additional 666 shares during the last quarter. Finally, CWM LLC lifted its stake in Monarch Casino & Resort by 264.7% in the 1st quarter. CWM LLC now owns 1,827 shares of the company's stock valued at $142,000 after buying an additional 1,326 shares in the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MCRI. Stifel Nicolaus boosted their target price on Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Wall Street Zen upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Wells Fargo & Company upgraded shares of Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $83.00 to $89.00 in a report on Thursday, July 17th. Finally, 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 research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $93.20.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock traded up $0.76 during trading hours on Thursday, reaching $102.94. 17,928 shares of the company were exchanged, compared to its average volume of 110,725. The firm has a market cap of $1.88 billion, a PE ratio of 19.34 and a beta of 1.49. The stock's fifty day moving average is $98.28 and its 200 day moving average is $87.71. Monarch Casino & Resort, Inc. has a 1 year low of $69.99 and a 1 year high of $113.88.

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 (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.22. The business had revenue of $136.91 million during 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%. Research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Insider Activity at Monarch Casino & Resort

In related news, Director Craig F. Sullivan sold 12,200 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $105.55, for a total value of $1,287,710.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Farahi sold 2,000 shares of the firm'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 sale, the chief executive officer directly owned 560,110 shares in the company, valued at approximately $59,248,435.80. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. 25.52% of the stock is owned by insiders.

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.