Wells Fargo & Company MN Has $2.53 Million Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Wells Fargo & Company MN lifted its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,026 shares of the company's stock after acquiring an additional 3,675 shares during the quarter. Wells Fargo & Company MN owned approximately 0.17% of Monarch Casino & Resort worth $2,527,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of Monarch Casino & Resort during the fourth quarter worth approximately $53,000. KBC Group NV lifted its stake in shares of Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company's stock valued at $77,000 after purchasing an additional 396 shares during the period. Independence Bank of Kentucky acquired a new position in shares of Monarch Casino & Resort in the 4th quarter valued at $93,000. Nisa Investment Advisors LLC boosted its position 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 worth $134,000 after purchasing an additional 400 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Monarch Casino & Resort by 49.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,760 shares of the company's stock worth $218,000 after purchasing an additional 917 shares during the period. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Stock Up 0.0 %

Shares of NASDAQ:MCRI traded up $0.02 during midday trading on Wednesday, reaching $78.19. The company had a trading volume of 102,294 shares, compared to its average volume of 118,219. The business's 50 day moving average price is $80.60 and its 200 day moving average price is $82.02. Monarch Casino & Resort, Inc. has a 1-year low of $64.58 and a 1-year high of $96.11. The stock has a market cap of $1.44 billion, a PE ratio of 15.80 and a beta of 1.57.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data 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. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. The company had revenue of $125.39 million for the quarter, compared to analysts' expectations of $122.70 million. On average, research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MCRI has been the subject of several analyst reports. StockNews.com lowered Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Macquarie reaffirmed a "neutral" rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. 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. Jefferies Financial Group boosted their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a "hold" rating in a report on Friday, January 3rd. Finally, Truist Financial dropped their price objective on 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. 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.