Voloridge Investment Management LLC Trims Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Voloridge Investment Management LLC reduced its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 56.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,441 shares of the company's stock after selling 13,341 shares during the period. Voloridge Investment Management LLC owned approximately 0.06% of Monarch Casino & Resort worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

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

Monarch Casino & Resort Stock Performance

Monarch Casino & Resort stock traded up $1.28 during trading hours on Tuesday, reaching $84.92. 80,179 shares of the stock were exchanged, compared to its average volume of 115,336. The stock has a market cap of $1.57 billion, a P/E ratio of 17.16 and a beta of 1.59. Monarch Casino & Resort, Inc. has a 52-week low of $65.65 and a 52-week high of $96.11. The firm's 50 day moving average is $78.69 and its 200 day moving average is $82.47.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research note on Wednesday, February 12th. Wall Street Zen raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Friday. Truist Financial lowered their price objective 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. Stifel Nicolaus decreased their price target on shares of 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. Finally, Macquarie reiterated a "neutral" rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. One equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $88.60.

Monarch Casino & Resort 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.