Cambiar Investors LLC Sells 5,525 Shares of Monarch Casino & Resort, Inc. $MCRI

Key Points

• Cambiar Investors LLC decreased its holdings in Monarch Casino & Resort by 16.5%, now owning approximately 0.15% of the company worth around $2.18 million.
• Analysts have mixed sentiments on Monarch Casino & Resort, with several raising their price targets, reflecting an average target price of $93.20 and a consensus rating of "Hold".
• Insider transactions showed that Director Craig F. Sullivan sold 12,200 shares for about $1.29 million, while CEO John Farahi sold 2,000 shares valued at approximately $211,560.

Cambiar Investors LLC decreased its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 16.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 28,030 shares of the company's stock after selling 5,525 shares during the period. Cambiar Investors LLC owned 0.15% of Monarch Casino & Resort worth $2,179,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MCRI. LPL Financial LLC increased its holdings in shares of Monarch Casino & Resort by 47.0% during the 4th quarter. LPL Financial LLC now owns 6,737 shares of the company's stock valued at $532,000 after acquiring an additional 2,155 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Monarch Casino & Resort by 0.8% during the 4th quarter. Alliancebernstein L.P. now owns 15,381 shares of the company's stock valued at $1,214,000 after acquiring an additional 121 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Monarch Casino & Resort by 13.0% during the 4th quarter. Wells Fargo & Company MN now owns 32,026 shares of the company's stock valued at $2,527,000 after acquiring an additional 3,675 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Monarch Casino & Resort by 4.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 42,284 shares of the company's stock valued at $3,336,000 after acquiring an additional 1,647 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of Monarch Casino & Resort during the 4th quarter valued at about $386,000. Institutional investors and hedge funds own 62.37% of the company's stock.

Monarch Casino & Resort Trading Up 0.1%

MCRI traded up $0.11 during midday trading on Wednesday, reaching $101.12. The company's stock had a trading volume of 62,969 shares, compared to its average volume of 112,006. The stock has a market cap of $1.85 billion, a P/E ratio of 19.01 and a beta of 1.56. The company has a fifty day simple moving average of $94.06 and a 200 day simple moving average of $86.51. 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 earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.22. The firm had revenue of $136.91 million for the quarter, compared to analyst estimates of $129.76 million. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%. Sell-side analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the firm's 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 completion of the sale, the chief executive officer owned 560,110 shares in the company, valued at approximately $59,248,435.80. This trade represents a 0.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig F. Sullivan sold 12,200 shares of the firm'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 value of $1,287,710.00. The disclosure for this sale can be found here. Company insiders own 25.52% of the company's stock.

Analysts Set New Price Targets

MCRI has been the topic of a number of analyst reports. Truist Financial increased their price objective on Monarch Casino & Resort from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Stifel Nicolaus increased their price objective on Monarch Casino & Resort from $81.00 to $92.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Macquarie reissued a "neutral" rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company raised Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $83.00 to $89.00 in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $93.20.

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.