Corebridge Financial Inc. Cuts Stock Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Corebridge Financial Inc. reduced its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,825 shares of the company’s stock after selling 534 shares during the period. Corebridge Financial Inc.’s holdings in Monarch Casino & Resort were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC purchased a new stake in shares of Monarch Casino & Resort during the 3rd quarter worth about $258,000. Barclays PLC boosted its position in Monarch Casino & Resort by 108.2% during the third quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after purchasing an additional 17,413 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Monarch Casino & Resort in the fourth quarter valued at approximately $1,516,000. Wellington Management Group LLP increased its position in shares of Monarch Casino & Resort by 3.9% in the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock valued at $17,410,000 after buying an additional 8,283 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in shares of Monarch Casino & Resort during the 4th quarter worth approximately $254,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Trading Down 0.2 %

Shares of NASDAQ MCRI opened at $72.87 on Tuesday. The stock has a market cap of $1.35 billion, a PE ratio of 14.72 and a beta of 1.57. Monarch Casino & Resort, Inc. has a 12-month low of $64.50 and a 12-month high of $96.11. The company has a 50-day moving average of $85.52 and a 200 day moving average of $82.32.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the firm earned $1.03 earnings per share. On average, sell-side analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Analyst Ratings Changes

MCRI has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. 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. Stifel Nicolaus raised their price target 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 boosted their price objective for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company raised their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $87.20.

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.