Voya Investment Management LLC Increases Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Voya Investment Management LLC increased its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 128.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,057 shares of the company's stock after purchasing an additional 21,391 shares during the quarter. Voya Investment Management LLC owned 0.21% of Monarch Casino & Resort worth $3,003,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Monarch Casino & Resort during the 4th quarter valued at approximately $19,346,000. Raymond James Financial Inc. purchased a new position in Monarch Casino & Resort in the 4th quarter valued at approximately $6,118,000. JPMorgan Chase & Co. raised its holdings in Monarch Casino & Resort by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company's stock worth $72,488,000 after purchasing an additional 72,764 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Monarch Casino & Resort by 103.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 133,673 shares of the company's stock worth $10,547,000 after purchasing an additional 67,973 shares in the last quarter. Finally, Orvieto Partners L.P. acquired a new stake in Monarch Casino & Resort in the fourth quarter valued at $4,994,000. Institutional investors and hedge funds own 62.37% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MCRI shares. Stifel Nicolaus decreased their price objective 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. Wells Fargo & Company increased their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research report on Wednesday, February 12th. StockNews.com cut shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Truist Financial lowered their target price on Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Macquarie reissued a "neutral" rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $88.60.

Monarch Casino & Resort Price Performance

MCRI stock traded up $1.12 during midday trading on Wednesday, hitting $79.58. The stock had a trading volume of 18,916 shares, compared to its average volume of 117,500. The company's 50-day moving average price is $79.62 and its 200 day moving average price is $82.12. The firm has a market cap of $1.47 billion, a PE ratio of 16.06 and a beta of 1.59. 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 issued its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, topping 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 business had revenue of $125.39 million for the quarter, compared to analyst estimates of $122.70 million. As a group, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

About Monarch Casino & Resort

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.