D. E. Shaw & Co. Inc. Buys 5,442 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

D. E. Shaw & Co. Inc. increased its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 149.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,087 shares of the company's stock after purchasing an additional 5,442 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Monarch Casino & Resort were worth $717,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCRI. Golden State Wealth Management LLC bought a new position in shares of Monarch Casino & Resort during the 4th quarter worth approximately $53,000. KBC Group NV raised its stake in Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company's stock valued at $77,000 after acquiring an additional 396 shares during the period. Independence Bank of Kentucky acquired a new stake in Monarch Casino & Resort during the 4th quarter valued at $93,000. Nisa Investment Advisors LLC boosted its position in Monarch Casino & Resort by 30.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company's stock worth $134,000 after purchasing an additional 400 shares during the period. Finally, Bank of Montreal Can bought a new position in Monarch Casino & Resort during the fourth quarter worth $202,000. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MCRI shares. Macquarie reiterated a "neutral" rating and set a $92.00 target price on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Wells Fargo & Company increased their price objective on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 12th. Wall Street Zen cut shares of Monarch Casino & Resort from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Stifel Nicolaus decreased their price target on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Finally, Truist Financial dropped their price objective on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $88.60.

Monarch Casino & Resort Trading Up 0.7%

MCRI stock traded up $0.59 during mid-day trading on Thursday, reaching $84.02. The company's stock had a trading volume of 86,114 shares, compared to its average volume of 115,536. Monarch Casino & Resort, Inc. has a 12 month low of $65.57 and a 12 month high of $96.11. The business's 50 day moving average price is $78.50 and its 200 day moving average price is $82.45. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 16.97 and a beta of 1.59.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. The company had revenue of $125.39 million for the quarter, compared to analysts' expectations of $122.70 million. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. As a group, equities analysts expect 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.