Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,311 shares of the company’s stock after selling 200 shares during the period. Swiss National Bank’s holdings in Monarch Casino & Resort were worth $2,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCRI. Jane Street Group LLC boosted its stake in shares of Monarch Casino & Resort by 518.8% during the 3rd quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock worth $9,280,000 after purchasing an additional 98,153 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $6,118,000. Weiss Asset Management LP boosted its position in Monarch Casino & Resort by 1,289.7% during the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock worth $6,279,000 after acquiring an additional 73,512 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Monarch Casino & Resort in the 3rd quarter worth approximately $2,349,000. Finally, DAVENPORT & Co LLC raised its holdings in Monarch Casino & Resort by 1.6% in the 4th quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company’s stock valued at $98,696,000 after acquiring an additional 19,845 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Insiders Place Their Bets

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

Monarch Casino & Resort Stock Performance

NASDAQ MCRI opened at $80.48 on Friday. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 16.26 and a beta of 1.74. Monarch Casino & Resort, Inc. has a one year low of $64.50 and a one year high of $96.11. The company’s 50 day moving average price is $86.60 and its 200 day moving average price is $82.18.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share 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 quarter last year, the business posted $1.03 EPS. Sell-side analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.