Wellington Management Group LLP Lowers Holdings 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 fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 210,503 shares of the company's stock after selling 9,122 shares during the quarter. Wellington Management Group LLP owned 1.14% of Monarch Casino & Resort worth $16,609,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $19,346,000. Raymond James Financial Inc. acquired a new position in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $6,118,000. JPMorgan Chase & Co. raised its holdings 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 valued at $72,488,000 after acquiring an additional 72,764 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings 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 valued at $10,547,000 after acquiring an additional 67,973 shares during the last quarter. Finally, Orvieto Partners L.P. acquired a new position in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $4,994,000. Institutional investors and hedge funds own 62.37% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on MCRI. Macquarie reissued a "neutral" rating and set a $92.00 target price on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Stifel Nicolaus reduced their target price on Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Truist Financial reduced their target price on Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company increased their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a report on Wednesday, February 12th. Finally, Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Monarch Casino & Resort presently has an average rating of "Hold" and a consensus target price of $88.60.

Monarch Casino & Resort Price Performance

Shares of NASDAQ:MCRI traded down $0.28 during midday trading on Thursday, hitting $83.47. The company had a trading volume of 108,500 shares, compared to its average volume of 115,316. Monarch Casino & Resort, Inc. has a twelve month low of $65.65 and a twelve month high of $96.11. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 16.86 and a beta of 1.59. The business's 50-day simple moving average is $78.91 and its 200-day simple moving average is $82.48.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.05 EPS for the quarter, beating 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. As a group, sell-side analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current 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.