Cambiar Investors LLC Has $2.18 Million Stock Holdings in 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 trimmed its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 16.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,030 shares of the company's stock after selling 5,525 shares during the quarter. Cambiar Investors LLC owned about 0.15% of Monarch Casino & Resort worth $2,179,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Monarch Casino & Resort by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,028,325 shares of the company's stock valued at $79,952,000 after purchasing an additional 24,616 shares during the period. American Century Companies Inc. increased its position in shares of Monarch Casino & Resort by 10.5% during the 1st quarter. American Century Companies Inc. now owns 446,600 shares of the company's stock valued at $34,723,000 after purchasing an additional 42,527 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Monarch Casino & Resort during the 4th quarter valued at $19,346,000. Invesco Ltd. increased its position in shares of Monarch Casino & Resort by 147.1% during the 1st quarter. Invesco Ltd. now owns 222,770 shares of the company's stock valued at $17,320,000 after purchasing an additional 132,599 shares during the period. Finally, Northern Trust Corp increased its position in shares of Monarch Casino & Resort by 8.7% during the 4th quarter. Northern Trust Corp now owns 133,734 shares of the company's stock valued at $10,552,000 after purchasing an additional 10,697 shares during the period. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $105.78, for a total transaction of $211,560.00. Following the transaction, the chief executive officer directly owned 560,110 shares in the company, valued at $59,248,435.80. The trade was a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Craig F. Sullivan sold 12,200 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were 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. Insiders own 25.52% of the company's stock.

Monarch Casino & Resort Stock Up 2.2%

Shares of Monarch Casino & Resort stock traded up $2.28 during midday trading on Friday, hitting $104.65. The company's stock had a trading volume of 26,426 shares, compared to its average volume of 111,086. The firm has a market capitalization of $1.91 billion, a P/E ratio of 19.67 and a beta of 1.56. The stock has a 50-day simple moving average of $94.74 and a 200-day simple moving average of $86.74. Monarch Casino & Resort, Inc. has a 1-year low of $69.99 and a 1-year high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its quarterly earnings data 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. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%.The firm had revenue of $136.91 million during the quarter, compared to analysts' expectations of $129.76 million. As a group, sell-side analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Wall Street Analyst Weigh In

MCRI has been the subject of several research reports. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Truist Financial raised their price objective on Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company raised Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $83.00 to $89.00 in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Monarch Casino & Resort currently has an average rating of "Hold" and a consensus target price of $93.20.

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.