Nuveen Asset Management LLC grew its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 76.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,031 shares of the company's stock after purchasing an additional 26,814 shares during the period. Nuveen Asset Management LLC owned approximately 0.34% of Monarch Casino & Resort worth $4,894,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in MCRI. Golden State Wealth Management LLC purchased a new position in Monarch Casino & Resort in the fourth quarter worth $53,000. KBC Group NV raised its stake in shares of Monarch Casino & Resort by 67.8% during the fourth 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 last quarter. Independence Bank of Kentucky bought a new position in Monarch Casino & Resort in the fourth quarter worth about $93,000. Bank of Montreal Can bought a new position in Monarch Casino & Resort in the fourth quarter worth about $202,000. Finally, Pacer Advisors Inc. raised its stake in Monarch Casino & Resort by 49.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,760 shares of the company's stock worth $218,000 after buying an additional 917 shares in the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.
Monarch Casino & Resort Stock Down 1.4%
Shares of NASDAQ MCRI traded down $1.17 on Wednesday, reaching $83.75. 49,644 shares of the company's stock traded hands, compared to its average volume of 115,135. The business's 50 day simple moving average is $78.80 and its two-hundred day simple moving average is $82.47. Monarch Casino & Resort, Inc. has a 12 month low of $65.65 and a 12 month high of $96.11. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 16.92 and a beta of 1.59.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.01. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. The firm had revenue of $125.39 million for the quarter, compared to analysts' expectations of $122.70 million. Analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on MCRI. Wells Fargo & Company increased their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 12th. Truist Financial decreased their price target 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. Stifel Nicolaus decreased their target price on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Macquarie reaffirmed a "neutral" rating and set a $92.00 target price on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $88.60.
Check Out Our Latest Report on MCRI
Monarch Casino & Resort Profile
(
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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