Price T Rowe Associates Inc. MD Acquires 7,933 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Price T Rowe Associates Inc. MD boosted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 28.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,075 shares of the company's stock after acquiring an additional 7,933 shares during the period. Price T Rowe Associates Inc. MD owned 0.20% of Monarch Casino & Resort worth $2,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of Monarch Casino & Resort during the 4th quarter worth approximately $53,000. KBC Group NV grew its holdings in Monarch Casino & Resort by 67.8% during the 4th quarter. KBC Group NV now owns 980 shares of the company's stock worth $77,000 after acquiring an additional 396 shares during the period. Independence Bank of Kentucky bought a new stake in shares of Monarch Casino & Resort during the 4th quarter valued at $93,000. Nisa Investment Advisors LLC lifted its stake in shares of 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 during the period. Finally, Bank of Montreal Can bought a new position in shares of Monarch Casino & Resort in the 4th quarter worth $202,000. 62.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com lowered Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Truist Financial reduced their price objective on shares of 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. Wells Fargo & Company upped their target price 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. Stifel Nicolaus reduced 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, Macquarie restated a "neutral" rating and issued a $92.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. One research 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $88.60.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock traded up $0.20 on Friday, hitting $80.03. The company had a trading volume of 61,537 shares, compared to its average volume of 117,468. Monarch Casino & Resort, Inc. has a twelve month low of $64.58 and a twelve month high of $96.11. The stock has a 50-day moving average of $78.96 and a 200-day moving average of $82.18. The firm has a market capitalization of $1.48 billion, a P/E ratio of 16.17 and a beta of 1.59.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. The firm had revenue of $125.39 million during 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%. Equities analysts predict 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.