Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 25.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,552 shares of the company's stock after selling 10,962 shares during the period. First Trust Advisors LP owned about 0.17% of Monarch Casino & Resort worth $2,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Golden State Wealth Management LLC purchased a new stake in Monarch Casino & Resort during the 4th quarter worth approximately $53,000. KBC Group NV increased its position in shares of Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company's stock worth $77,000 after purchasing an additional 396 shares in the last quarter. Independence Bank of Kentucky acquired a new position in Monarch Casino & Resort in the 4th quarter valued at $93,000. Nisa Investment Advisors LLC lifted its holdings in Monarch Casino & Resort by 30.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company's stock valued at $134,000 after purchasing an additional 400 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Monarch Casino & Resort during the 4th quarter worth $202,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Up 1.2 %

MCRI stock traded up $0.94 during mid-day trading on Wednesday, hitting $79.40. 66,098 shares of the company were exchanged, compared to its average volume of 117,696. The firm has a market capitalization of $1.47 billion, a P/E ratio of 16.04 and a beta of 1.59. The business has a fifty day simple moving average of $79.38 and a 200-day simple moving average of $82.10. Monarch Casino & Resort, Inc. has a 12-month low of $64.58 and a 12-month high of $96.11.

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 analysts' consensus estimates of $1.04 by $0.01. The company had revenue of $125.39 million for the quarter, compared to analysts' expectations of $122.70 million. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. Research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial cut 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 report on Wednesday, April 23rd. Macquarie reissued a "neutral" rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. StockNews.com downgraded Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. 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, Wells Fargo & Company raised their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Monarch Casino & Resort currently has an average rating of "Hold" and an average target price of $88.60.

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.