Millennium Management LLC Trims Stock Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Millennium Management LLC cut its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 36.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,749 shares of the company's stock after selling 40,282 shares during the period. Millennium Management LLC owned approximately 0.38% of Monarch Casino & Resort worth $5,503,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. lifted its position 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 worth $1,214,000 after buying an additional 121 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Monarch Casino & Resort by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 24,706 shares of the company's stock valued at $1,949,000 after purchasing an additional 210 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Monarch Casino & Resort by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company's stock valued at $785,000 after purchasing an additional 250 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Monarch Casino & Resort by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,302 shares of the company's stock valued at $576,000 after buying an additional 273 shares in the last quarter. Finally, State of Tennessee Department of Treasury grew its stake in shares of Monarch Casino & Resort by 3.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 12,223 shares of the company's stock worth $964,000 after buying an additional 361 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MCRI. Truist Financial dropped 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. Wells Fargo & Company lifted their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 12th. Wall Street Zen upgraded shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Friday. Stifel Nicolaus reduced 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 note on Wednesday, April 23rd. Finally, Macquarie reissued a "neutral" rating and issued a $92.00 price target 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 assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Monarch Casino & Resort currently has a consensus rating of "Hold" and a consensus price target of $88.60.

Monarch Casino & Resort Price Performance

NASDAQ MCRI traded down $0.17 during trading on Friday, hitting $83.85. 105,451 shares of the company's stock traded hands, compared to its average volume of 115,385. The firm has a market cap of $1.55 billion, a P/E ratio of 16.94 and a beta of 1.59. Monarch Casino & Resort, Inc. has a 12-month low of $65.65 and a 12-month high of $96.11. The stock has a fifty day moving average of $78.55 and a two-hundred day moving average of $82.45.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $125.39 million for the quarter, compared to analyst estimates of $122.70 million. As a group, analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal 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.