Monarch Casino & Resort, Inc. $MCRI Position Increased by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly increased its stake in Monarch Casino & Resort by 726.4%, owning 37,289 shares valued at $2.9 million after acquiring 32,777 additional shares in Q1.
• Several analysts have raised their price targets for Monarch Casino & Resort, with Truist Financial setting a new target at $105.00, indicating strong bullish sentiment.
• CEO John Farahi and Director Craig F. Sullivan both sold shares recently, with Farahi selling 2,000 shares at $105.78 and Sullivan selling 12,200 shares at $105.55, indicating possible profit-taking by insiders.

Trexquant Investment LP boosted its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 726.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,289 shares of the company's stock after purchasing an additional 32,777 shares during the quarter. Trexquant Investment LP owned about 0.20% of Monarch Casino & Resort worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCRI. Vanguard Group Inc. boosted its holdings in Monarch Casino & Resort by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,028,325 shares of the company's stock valued at $79,952,000 after acquiring an additional 24,616 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Monarch Casino & Resort by 10.5% during the 1st quarter. American Century Companies Inc. now owns 446,600 shares of the company's stock valued at $34,723,000 after acquiring an additional 42,527 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in Monarch Casino & Resort by 40.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 343,565 shares of the company's stock worth $26,712,000 after purchasing an additional 98,371 shares in the last quarter. Wellington Management Group LLP raised its position in Monarch Casino & Resort by 10.9% in the first quarter. Wellington Management Group LLP now owns 233,513 shares of the company's stock worth $18,156,000 after purchasing an additional 23,010 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Monarch Casino & Resort by 147.1% during the first quarter. Invesco Ltd. now owns 222,770 shares of the company's stock valued at $17,320,000 after purchasing an additional 132,599 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.

Insider Transactions at Monarch Casino & Resort

In related news, Director Craig F. Sullivan sold 12,200 shares of the business's stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Farahi sold 2,000 shares of the firm's 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 directly owned 560,110 shares in the company, valued at $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.

Monarch Casino & Resort Trading Up 0.1%

NASDAQ MCRI traded up $0.14 during trading on Monday, hitting $102.02. 71,600 shares of the company traded hands, compared to its average volume of 110,427. The business has a fifty day simple moving average of $98.93 and a 200 day simple moving average of $87.78. The company has a market capitalization of $1.86 billion, a P/E ratio of 19.18 and a beta of 1.49. Monarch Casino & Resort, Inc. has a 12 month low of $69.99 and a 12 month high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MCRI has been the subject of several research reports. Truist Financial increased their price objective on shares of 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 price target on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the company a "hold" rating in a report 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. Finally, Wells Fargo & Company raised shares of Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $83.00 to $89.00 in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $93.20.

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.