MQS Management LLC Makes New $464,000 Investment in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

MQS Management LLC bought a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,971 shares of the company's stock, valued at approximately $464,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. TD Private Client Wealth LLC raised its stake in Monarch Casino & Resort by 72.6% in the 1st quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock valued at $29,000 after purchasing an additional 159 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Monarch Casino & Resort by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company's stock valued at $104,000 after buying an additional 666 shares during the last quarter. CWM LLC raised its position in shares of Monarch Casino & Resort by 264.7% in the first quarter. CWM LLC now owns 1,827 shares of the company's stock valued at $142,000 after buying an additional 1,326 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Monarch Casino & Resort by 1,700.8% in the first quarter. Bessemer Group Inc. now owns 2,125 shares of the company's stock worth $165,000 after buying an additional 2,007 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Monarch Casino & Resort during the fourth quarter worth about $169,000. Hedge funds and other institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Stock Down 3.0%

NASDAQ:MCRI opened at $86.64 on Monday. Monarch Casino & Resort, Inc. has a 52 week low of $67.14 and a 52 week high of $96.11. The company has a fifty day simple moving average of $84.33 and a two-hundred day simple moving average of $83.00. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 17.09 and a beta of 1.54.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.53% and a net margin of 18.19%. The firm had revenue of $125.39 million during the quarter, compared to analyst estimates of $122.70 million. On average, analysts expect that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Analyst Upgrades and Downgrades

MCRI has been the subject of a number of recent research reports. Macquarie reiterated a "neutral" rating and issued a $92.00 price objective on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Wall Street Zen upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating in a report on Sunday. Stifel Nicolaus decreased their price objective on Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Truist Financial lowered 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 research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $88.60.

About Monarch Casino & Resort

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.

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