Charles Schwab Investment Management Inc. lifted its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 10.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 131,028 shares of the company's stock after purchasing an additional 12,516 shares during the period. Charles Schwab Investment Management Inc. owned 0.71% of Monarch Casino & Resort worth $10,187,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. TD Private Client Wealth LLC boosted its holdings 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 acquiring an additional 159 shares during the last quarter. Vestcor Inc bought a new position in Monarch Casino & Resort in the first quarter valued at about $58,000. Meeder Asset Management Inc. boosted its holdings 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 acquiring an additional 355 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings 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 acquiring an additional 666 shares during the last quarter. Finally, CWM LLC boosted its holdings 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 acquiring an additional 1,326 shares during the last quarter. Institutional investors own 62.37% of the company's stock.
Monarch Casino & Resort Trading Down 0.8%
Shares of NASDAQ MCRI traded down $0.79 during mid-day trading on Friday, reaching $104.33. 117,381 shares of the company's stock were exchanged, compared to its average volume of 80,203. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 19.61 and a beta of 1.56. The business has a fifty day simple moving average of $97.26 and a 200 day simple moving average of $87.48. Monarch Casino & Resort, Inc. has a twelve month low of $69.99 and a twelve 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 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $129.76 million. Equities research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.
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 that occurred on Tuesday, July 22nd. The stock was 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 SEC, which is accessible through the SEC website. Also, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction that occurred 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 transaction, the chief executive officer owned 560,110 shares of the company's stock, 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. 25.52% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Stifel Nicolaus increased their target price on Monarch Casino & Resort from $81.00 to $92.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Truist Financial increased their target price 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. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Finally, Wells Fargo & Company raised Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $83.00 to $89.00 in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $93.20.
View Our Latest Stock Analysis on MCRI
About Monarch Casino & Resort
(
Free Report)
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.
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