Millennium Management LLC Cuts Position 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 disclosure with the 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 about 0.38% of Monarch Casino & Resort worth $5,503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Monarch Casino & Resort by 108.2% in the third quarter. Barclays PLC now owns 33,508 shares of the company's stock worth $2,656,000 after purchasing an additional 17,413 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Monarch Casino & Resort by 30.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company's stock worth $134,000 after purchasing an additional 400 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Monarch Casino & Resort by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company's stock worth $785,000 after purchasing an additional 250 shares during the last quarter. KBC Group NV lifted its stake in Monarch Casino & Resort by 67.8% in the fourth quarter. KBC Group NV now owns 980 shares of the company's stock worth $77,000 after purchasing an additional 396 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Monarch Casino & Resort by 49.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,760 shares of the company's stock worth $218,000 after purchasing an additional 917 shares during the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stifel Nicolaus lowered their price target 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. 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. Wall Street Zen raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Friday. Truist Financial lowered 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. Finally, Wells Fargo & Company boosted their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $88.60.

Monarch Casino & Resort Stock Down 0.1%

Shares of NASDAQ:MCRI traded down $0.10 during midday trading on Monday, hitting $83.64. 117,415 shares of the stock traded hands, compared to its average volume of 115,392. The stock has a market capitalization of $1.54 billion, a PE ratio of 16.90 and a beta of 1.59. The business's 50 day moving average is $78.60 and its two-hundred day moving average is $82.45. Monarch Casino & Resort, Inc. has a one year low of $65.65 and a one year high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. The firm had revenue of $125.39 million during the quarter, compared to the consensus estimate of $122.70 million. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. As a group, sell-side analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

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.