Ritholtz Wealth Management Purchases 16,917 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Ritholtz Wealth Management lifted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 524.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 20,140 shares of the company's stock after purchasing an additional 16,917 shares during the quarter. Ritholtz Wealth Management owned 0.11% of Monarch Casino & Resort worth $1,566,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of Monarch Casino & Resort by 58.3% during the first quarter. SG Americas Securities LLC now owns 7,642 shares of the company's stock worth $594,000 after buying an additional 2,813 shares in the last quarter. Annex Advisory Services LLC increased its holdings in Monarch Casino & Resort by 42.6% during the 1st quarter. Annex Advisory Services LLC now owns 22,747 shares of the company's stock valued at $1,769,000 after purchasing an additional 6,794 shares in the last quarter. Heritage Family Offices LLP raised its position in Monarch Casino & Resort by 9.3% in the 1st quarter. Heritage Family Offices LLP now owns 3,271 shares of the company's stock valued at $254,000 after purchasing an additional 278 shares during the last quarter. Rhumbline Advisers raised its position in Monarch Casino & Resort by 1.1% in the 1st quarter. Rhumbline Advisers now owns 29,525 shares of the company's stock valued at $2,296,000 after purchasing an additional 322 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Monarch Casino & Resort by 9,017.4% in the first quarter. GAMMA Investing LLC now owns 50,693 shares of the company's stock worth $3,941,000 after purchasing an additional 50,137 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.

Monarch Casino & Resort Trading Up 0.9%

Shares of NASDAQ:MCRI traded up $0.76 during trading on Friday, hitting $84.95. 77,459 shares of the company's stock were exchanged, compared to its average volume of 113,921. The firm has a market cap of $1.57 billion, a P/E ratio of 16.69 and a beta of 1.54. The firm has a 50-day moving average price of $80.72 and a two-hundred day moving average price of $82.47. Monarch Casino & Resort, Inc. has a 1-year low of $65.65 and a 1-year high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. The firm had revenue of $125.39 million during the quarter, compared to analyst estimates of $122.70 million. Monarch Casino & Resort had a net margin of 18.19% and a return on equity of 18.53%. As a group, research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCRI. Truist Financial reduced their price target on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Macquarie reissued a "neutral" rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Stifel Nicolaus dropped their price objective on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $88.60.

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.