Natixis Advisors LLC Invests $803,000 in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Natixis Advisors LLC bought a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,334 shares of the company's stock, valued at approximately $803,000. Natixis Advisors LLC owned 0.06% of Monarch Casino & Resort as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MCRI. Vestcor Inc bought a new position in shares of Monarch Casino & Resort in the first quarter worth about $58,000. Meeder Asset Management Inc. raised its stake in shares of Monarch Casino & Resort by 45.3% in the first quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company's stock worth $89,000 after buying an additional 355 shares during the period. Pacer Advisors Inc. raised its stake in shares of Monarch Casino & Resort by 27.3% in the first quarter. Pacer Advisors Inc. now owns 3,513 shares of the company's stock worth $273,000 after buying an additional 753 shares during the period. Royce & Associates LP raised its stake in shares of Monarch Casino & Resort by 1.7% in the first quarter. Royce & Associates LP now owns 19,930 shares of the company's stock worth $1,550,000 after buying an additional 335 shares during the period. Finally, Wakefield Asset Management LLLP bought a new position in shares of Monarch Casino & Resort in the first quarter worth about $939,000. Institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Stock Performance

MCRI traded down $1.72 during trading on Friday, reaching $100.00. 20,080 shares of the company traded hands, compared to its average volume of 112,262. Monarch Casino & Resort, Inc. has a 12-month low of $69.99 and a 12-month high of $113.88. The firm has a fifty day simple moving average of $93.11 and a 200 day simple moving average of $86.20. The company has a market cap of $1.83 billion, a P/E ratio of 18.80 and a beta of 1.56.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced 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 net margin of 18.70% and a return on equity of 18.99%. The business had revenue of $136.91 million during the quarter, compared to analyst estimates of $129.76 million. As a group, sell-side analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort 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 sale, the chief executive officer owned 560,110 shares of the company's stock, valued at $59,248,435.80. The trade was a 0.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Craig F. Sullivan sold 12,200 shares of Monarch Casino & Resort 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. Insiders own 25.52% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on MCRI. 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 lifted their target price on Monarch Casino & Resort from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Macquarie restated a "neutral" rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company raised shares of 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Monarch Casino & Resort presently has a consensus rating of "Hold" and an average price target of $93.20.

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.