Wellington Management Group LLP Reduces Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Wellington Management Group LLP decreased its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,503 shares of the company's stock after selling 9,122 shares during the period. Wellington Management Group LLP owned about 1.14% of Monarch Casino & Resort worth $16,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. DAVENPORT & Co LLC boosted its holdings in Monarch Casino & Resort by 1.6% in the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company's stock valued at $98,696,000 after purchasing an additional 19,845 shares during the period. Vanguard Group Inc. boosted its stake in shares of Monarch Casino & Resort by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company's stock valued at $79,193,000 after buying an additional 9,234 shares during the period. JPMorgan Chase & Co. grew its position 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 buying an additional 72,764 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Monarch Casino & Resort by 9.3% during the fourth quarter. American Century Companies Inc. now owns 404,073 shares of the company's stock worth $31,881,000 after buying an additional 34,384 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Monarch Casino & Resort during the fourth quarter worth approximately $19,346,000. Institutional investors and hedge funds own 62.37% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on MCRI shares. Wells Fargo & Company increased 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 report on Wednesday, February 12th. Truist Financial cut their price target on 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. Macquarie reaffirmed a "neutral" rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Stifel Nicolaus dropped their price objective on Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $88.60.

Monarch Casino & Resort Stock Performance

NASDAQ MCRI traded up $1.28 during trading hours on Tuesday, hitting $84.92. The company had a trading volume of 80,179 shares, compared to its average volume of 115,252. The business has a 50 day moving average of $78.60 and a 200-day moving average of $82.45. Monarch Casino & Resort, Inc. has a 1-year low of $65.65 and a 1-year high of $96.11. The company has a market cap of $1.57 billion, a PE ratio of 17.16 and a beta of 1.59.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its quarterly 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 company had revenue of $125.39 million for the quarter, compared to analyst estimates of $122.70 million. Sell-side analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

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.