Northern Trust Corp Increases Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Northern Trust Corp boosted its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,734 shares of the company's stock after acquiring an additional 10,697 shares during the quarter. Northern Trust Corp owned about 0.73% of Monarch Casino & Resort worth $10,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in Monarch Casino & Resort during the fourth quarter worth $53,000. KBC Group NV increased its stake in Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company's stock worth $77,000 after acquiring an additional 396 shares during the last quarter. Independence Bank of Kentucky acquired a new stake in Monarch Casino & Resort during the fourth quarter worth $93,000. Nisa Investment Advisors LLC grew its stake in shares of Monarch Casino & Resort by 30.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company's stock valued at $134,000 after buying an additional 400 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at $202,000. Institutional investors and hedge funds own 62.37% of the company's stock.

Wall Street Analysts Forecast Growth

MCRI has been the subject of a number of research reports. Truist Financial dropped their price objective on 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. Wall Street Zen cut Monarch Casino & Resort from a "buy" rating to a "hold" rating in a research note on Thursday. Stifel Nicolaus dropped their price objective on 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. Wells Fargo & Company lifted their price objective on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research note on Wednesday, February 12th. Finally, Macquarie reaffirmed a "neutral" rating and issued a $92.00 price objective 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, four have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $88.60.

Monarch Casino & Resort Trading Up 0.3%

MCRI traded up $0.21 on Friday, hitting $81.92. 127,615 shares of the company were exchanged, compared to its average volume of 115,658. Monarch Casino & Resort, Inc. has a twelve month low of $64.94 and a twelve month high of $96.11. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 16.55 and a beta of 1.59. The firm has a 50-day moving average price of $78.34 and a two-hundred day moving average price of $82.44.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. The firm had revenue of $125.39 million during the quarter, compared to analysts' expectations of $122.70 million. Equities analysts expect that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

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.