Connor Clark & Lunn Investment Management Ltd. Grows Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 32.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,242 shares of the company’s stock after purchasing an additional 2,506 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Monarch Casino & Resort worth $808,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCRI. Golden State Wealth Management LLC purchased a new stake in Monarch Casino & Resort in the fourth quarter worth $53,000. KBC Group NV increased its stake in Monarch Casino & Resort by 67.8% in the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock worth $77,000 after purchasing an additional 396 shares during the period. Independence Bank of Kentucky purchased a new stake in Monarch Casino & Resort in the fourth quarter worth $93,000. Nisa Investment Advisors LLC increased its stake in Monarch Casino & Resort by 30.9% in the fourth 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 period. Finally, Pacer Advisors Inc. increased its stake in Monarch Casino & Resort by 49.8% in 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. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $81.19 on Friday. 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 is $86.69 and its 200 day moving average is $82.02. The company has a market cap of $1.50 billion, a P/E ratio of 16.40 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same quarter in the prior year, the company earned $1.03 EPS. On average, analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on MCRI shares. Jefferies Financial Group raised their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Stifel Nicolaus raised their price target on Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a research note on Wednesday, February 12th. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and raised their price target for the company from $82.00 to $100.00 in a research note on Tuesday, January 14th. Finally, StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $87.20.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the sale, the chief executive officer now owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.94% of the stock is owned by corporate insiders.

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.