Thrivent Financial for Lutherans Trims Stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Thrivent Financial for Lutherans cut its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 1.9% during the 4th quarter, Holdings Channel reports. The fund owned 9,808 shares of the company’s stock after selling 190 shares during the period. Thrivent Financial for Lutherans’ holdings in Monarch Casino & Resort were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC purchased a new stake in shares of Monarch Casino & Resort in the 4th quarter worth $53,000. KBC Group NV grew its holdings in Monarch Casino & Resort by 67.8% during the fourth 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 purchased a new stake in Monarch Casino & Resort in the fourth quarter worth about $93,000. Nisa Investment Advisors LLC raised its stake in shares of 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 buying an additional 400 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of Monarch Casino & Resort by 49.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,760 shares of the company’s stock valued at $218,000 after buying an additional 917 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Analyst Ratings Changes

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

Monarch Casino & Resort Stock Performance

MCRI stock opened at $79.22 on Thursday. The company’s fifty day moving average price is $86.16 and its 200-day moving average price is $82.33. Monarch Casino & Resort, Inc. has a one year low of $64.50 and a one year high of $96.11. The company has a market capitalization of $1.46 billion, a PE ratio of 16.00 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company posted $1.03 EPS. On average, research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.94% of the company’s stock.

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.