Vanguard Group Inc. Buys 9,234 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Vanguard Group Inc. boosted its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,003,709 shares of the company's stock after buying an additional 9,234 shares during the quarter. Vanguard Group Inc. owned 5.46% of Monarch Casino & Resort worth $79,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCRI. DAVENPORT & Co LLC raised its stake in Monarch Casino & Resort by 1.6% during the 4th 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. American Century Companies Inc. lifted its stake in Monarch Casino & Resort by 9.3% in the 4th quarter. American Century Companies Inc. now owns 404,073 shares of the company's stock worth $31,881,000 after acquiring an additional 34,384 shares in the last quarter. Wellington Management Group LLP lifted its stake in Monarch Casino & Resort by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company's stock worth $17,410,000 after acquiring an additional 8,283 shares in the last quarter. FMR LLC boosted its position in Monarch Casino & Resort by 1.1% during the 3rd quarter. FMR LLC now owns 134,098 shares of the company's stock worth $10,630,000 after acquiring an additional 1,396 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Monarch Casino & Resort by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 118,512 shares of the company's stock valued at $9,351,000 after purchasing an additional 5,674 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on MCRI. Wells Fargo & Company increased their price objective on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a report on Wednesday, February 12th. Stifel Nicolaus raised their target price on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. StockNews.com cut shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Truist Financial upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating and increased their target price for the company from $82.00 to $100.00 in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group boosted their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $87.20.

Monarch Casino & Resort Stock Performance

NASDAQ MCRI traded down $0.50 during trading on Wednesday, reaching $74.66. 1,221 shares of the company traded hands, compared to its average volume of 118,367. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 15.18 and a beta of 1.57. Monarch Casino & Resort, Inc. has a 1-year low of $64.50 and a 1-year high of $96.11. The stock's 50 day moving average price is $83.73 and its two-hundred day moving average price is $82.09.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same period in the prior year, the firm posted $1.03 EPS. Equities research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 EPS 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.