Cerity Partners LLC Invests $6.56 Million in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Cerity Partners LLC bought a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 94,888 shares of the company's stock, valued at approximately $6,562,000. Cerity Partners LLC owned about 0.50% of Monarch Casino & Resort at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cambiar Investors LLC grew its stake in shares of Monarch Casino & Resort by 0.5% in the 4th quarter. Cambiar Investors LLC now owns 37,972 shares of the company's stock valued at $2,626,000 after purchasing an additional 202 shares during the last quarter. Trust Point Inc. purchased a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at approximately $507,000. DAVENPORT & Co LLC boosted its stake in shares of Monarch Casino & Resort by 3.7% in the fourth quarter. DAVENPORT & Co LLC now owns 1,187,370 shares of the company's stock valued at $82,396,000 after buying an additional 42,235 shares in the last quarter. Manning & Napier Group LLC boosted its stake in shares of Monarch Casino & Resort by 0.3% in the fourth quarter. Manning & Napier Group LLC now owns 70,304 shares of the company's stock valued at $4,862,000 after buying an additional 200 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Monarch Casino & Resort by 74.7% in the fourth quarter. Pacer Advisors Inc. now owns 464,501 shares of the company's stock valued at $32,120,000 after buying an additional 198,623 shares in the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCRI. Stifel Nicolaus restated a "hold" rating and issued a $70.00 price target on shares of Monarch Casino & Resort in a research note on Friday, January 5th. Truist Financial lifted their price target on Monarch Casino & Resort from $72.00 to $74.00 and gave the company a "hold" rating in a research note on Thursday, February 15th. Finally, StockNews.com upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Saturday, March 9th.

Monarch Casino & Resort Price Performance

MCRI stock traded down $0.16 during midday trading on Tuesday, hitting $70.39. 72,190 shares of the stock were exchanged, compared to its average volume of 115,315. The stock's 50-day moving average price is $70.82 and its 200-day moving average price is $67.02. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 16.76 and a beta of 1.66. Monarch Casino & Resort, Inc. has a fifty-two week low of $56.25 and a fifty-two week high of $77.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.55 and a current ratio of 0.61.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.11). The firm had revenue of $128.19 million for the quarter, compared to analyst estimates of $119.33 million. Monarch Casino & Resort had a return on equity of 17.41% and a net margin of 16.44%. Research analysts predict that Monarch Casino & Resort, Inc. will post 4.55 earnings per share for the current year.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.