Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 31.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 74,993 shares of the company's stock after selling 33,619 shares during the period. Teacher Retirement System of Texas owned 0.41% of Monarch Casino & Resort worth $5,831,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MCRI. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at about $19,346,000. Raymond James Financial Inc. acquired a new position in shares of Monarch Casino & Resort during the fourth quarter worth about $6,118,000. JPMorgan Chase & Co. increased its stake in shares of Monarch Casino & Resort by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company's stock worth $72,488,000 after acquiring an additional 72,764 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Monarch Casino & Resort by 103.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 133,673 shares of the company's stock worth $10,547,000 after acquiring an additional 67,973 shares during the period. Finally, Orvieto Partners L.P. acquired a new position in shares of Monarch Casino & Resort during the fourth quarter worth about $4,994,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCRI. Truist Financial dropped their price target on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen lowered shares of Monarch Casino & Resort from a "buy" rating to a "hold" rating in a research report on Saturday. Stifel Nicolaus lowered their price target on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, Macquarie reiterated a "neutral" rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $88.60.

Monarch Casino & Resort Stock Down 0.9%

Shares of MCRI traded down $0.80 on Monday, hitting $88.99. 98,547 shares of the stock traded hands, compared to its average volume of 107,823. The firm has a market capitalization of $1.64 billion, a P/E ratio of 17.55 and a beta of 1.54. The stock's 50 day moving average is $83.29 and its two-hundred day moving average is $82.64. Monarch Casino & Resort, Inc. has a 1 year low of $66.20 and a 1 year high of $96.11.

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

Monarch Casino & Resort Company 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.