Raymond James Financial Inc. increased its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 9.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 84,655 shares of the company's stock after buying an additional 7,115 shares during the period. Raymond James Financial Inc. owned 0.46% of Monarch Casino & Resort worth $6,582,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. lifted its position in Monarch Casino & Resort by 147.1% in the 1st quarter. Invesco Ltd. now owns 222,770 shares of the company's stock valued at $17,320,000 after acquiring an additional 132,599 shares in the last quarter. Nuveen LLC bought a new position in shares of Monarch Casino & Resort during the 1st quarter valued at $9,872,000. GAMMA Investing LLC lifted its holdings in shares of Monarch Casino & Resort by 9,017.4% during the 1st quarter. GAMMA Investing LLC now owns 50,693 shares of the company's stock valued at $3,941,000 after buying an additional 50,137 shares during the period. Emmett Investment Management LP bought a new position in shares of Monarch Casino & Resort during the 4th quarter valued at $3,546,000. Finally, American Century Companies Inc. lifted its holdings in shares of Monarch Casino & Resort by 10.5% during the 1st quarter. American Century Companies Inc. now owns 446,600 shares of the company's stock valued at $34,723,000 after buying an additional 42,527 shares during the period. Hedge funds and other institutional investors own 62.37% of the company's stock.
Insider Buying and Selling at Monarch Casino & Resort
In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $105.78, for a total value of $211,560.00. Following the transaction, the chief executive officer directly owned 560,110 shares of the company's stock, valued at approximately $59,248,435.80. The trade was a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig F. Sullivan sold 12,200 shares of Monarch Casino & Resort stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $105.55, for a total transaction of $1,287,710.00. The disclosure for this sale can be found here. 25.52% of the stock is currently owned by insiders.
Monarch Casino & Resort Stock Down 1.8%
MCRI stock traded down $1.83 during trading on Friday, reaching $101.88. The company's stock had a trading volume of 64,988 shares, compared to its average volume of 81,177. The company has a market capitalization of $1.86 billion, a P/E ratio of 19.15 and a beta of 1.49. The company's fifty day moving average is $98.93 and its 200-day moving average is $87.84. Monarch Casino & Resort, Inc. has a 1 year low of $69.99 and a 1 year high of $113.88.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.22. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%.The firm had revenue of $136.91 million during the quarter, compared to analyst estimates of $129.76 million. Analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.
Wall Street Analyst Weigh In
MCRI has been the topic of several research analyst reports. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Truist Financial increased their price target on Monarch Casino & Resort from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Wells Fargo & Company upgraded Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $83.00 to $89.00 in a research note on Thursday, July 17th. Finally, Stifel Nicolaus upped 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. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $93.20.
View Our Latest Stock Report on Monarch Casino & Resort
Monarch Casino & Resort Profile
(
Free Report)
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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