Norges Bank Takes $3.65 Million Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Norges Bank purchased a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 46,300 shares of the company’s stock, valued at approximately $3,653,000. Norges Bank owned approximately 0.25% of Monarch Casino & Resort as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCRI. Golden State Wealth Management LLC acquired a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at about $53,000. KBC Group NV boosted its holdings in Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company’s stock worth $77,000 after buying an additional 396 shares during the last quarter. Independence Bank of Kentucky acquired a new stake in Monarch Casino & Resort in the 4th quarter worth about $93,000. Nisa Investment Advisors LLC increased its stake in Monarch Casino & Resort by 30.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after buying an additional 400 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings 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 valued at $218,000 after acquiring an additional 917 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Trading Down 4.1 %

Shares of MCRI stock opened at $74.10 on Friday. Monarch Casino & Resort, Inc. has a twelve month low of $64.50 and a twelve month high of $96.11. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 14.97 and a beta of 1.57. The company’s 50-day moving average price is $84.43 and its 200-day moving average price is $82.17.

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 period last year, the business posted $1.03 EPS. As a group, equities research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their target price 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. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note 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. Finally, Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and increased their price objective for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.