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

Ritholtz Wealth Management grew its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 524.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,140 shares of the company's stock after buying an additional 16,917 shares during the quarter. Ritholtz Wealth Management owned 0.11% of Monarch Casino & Resort worth $1,566,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Monarch Casino & Resort in the 4th quarter worth about $169,000. Bank of Montreal Can purchased a new stake in Monarch Casino & Resort in the fourth quarter worth approximately $202,000. Lazard Asset Management LLC grew its position in Monarch Casino & Resort by 33.4% in the 4th quarter. Lazard Asset Management LLC now owns 2,954 shares of the company's stock worth $233,000 after purchasing an additional 740 shares during the period. Heritage Family Offices LLP raised its stake in Monarch Casino & Resort by 9.3% during the 1st quarter. Heritage Family Offices LLP now owns 3,271 shares of the company's stock valued at $254,000 after buying an additional 278 shares during the last quarter. Finally, State of Wyoming lifted its holdings in shares of Monarch Casino & Resort by 56.4% during the 4th quarter. State of Wyoming now owns 3,341 shares of the company's stock valued at $264,000 after buying an additional 1,205 shares during the period. Institutional investors own 62.37% of the company's stock.

Wall Street Analyst Weigh In

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

Monarch Casino & Resort Stock Up 0.4%

NASDAQ MCRI traded up $0.30 on Tuesday, reaching $83.58. The company had a trading volume of 70,853 shares, compared to its average volume of 102,420. The stock has a market capitalization of $1.54 billion, a PE ratio of 16.88 and a beta of 1.54. Monarch Casino & Resort, Inc. has a 12 month low of $65.65 and a 12 month high of $96.11. The firm's 50 day moving average price is $80.26 and its 200 day moving average price is $82.46.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, beating 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 18.01% and a return on equity of 18.27%. On average, research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Company 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.