PNC Financial Services Group Inc. Sells 972 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

PNC Financial Services Group Inc. lowered its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 13.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,178 shares of the company’s stock after selling 972 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Monarch Casino & Resort were worth $427,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Manning & Napier Group LLC lifted its position in Monarch Casino & Resort by 0.3% in the fourth quarter. Manning & Napier Group LLC now owns 70,304 shares of the company’s stock worth $4,862,000 after purchasing an additional 200 shares during the period. Cambiar Investors LLC lifted its holdings in shares of Monarch Casino & Resort by 0.5% during the 4th quarter. Cambiar Investors LLC now owns 37,972 shares of the company’s stock worth $2,626,000 after acquiring an additional 202 shares during the period. Rhumbline Advisers boosted its position in shares of Monarch Casino & Resort by 0.7% during the 3rd quarter. Rhumbline Advisers now owns 31,561 shares of the company’s stock valued at $1,960,000 after acquiring an additional 228 shares in the last quarter. First National Bank of Omaha increased its stake in Monarch Casino & Resort by 3.5% in the third quarter. First National Bank of Omaha now owns 11,422 shares of the company’s stock valued at $709,000 after acquiring an additional 387 shares during the period. Finally, Deutsche Bank AG raised its position in Monarch Casino & Resort by 12.4% in the third quarter. Deutsche Bank AG now owns 7,618 shares of the company’s stock worth $473,000 after purchasing an additional 843 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Analyst Ratings Changes

MCRI has been the topic of a number of recent research reports. Macquarie lifted their price objective on Monarch Casino & Resort from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. StockNews.com upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th.

Monarch Casino & Resort Trading Up 0.0 %

NASDAQ MCRI opened at $68.13 on Friday. Monarch Casino & Resort, Inc. has a 1-year low of $56.25 and a 1-year high of $75.40. The company has a 50 day moving average of $67.55 and a 200-day moving average of $68.82. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 16.11 and a beta of 1.70.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, April 17th. The company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.05). The business had revenue of $121.66 million for the quarter, compared to analyst estimates of $122.13 million. Monarch Casino & Resort had a net margin of 16.40% and a return on equity of 17.13%. On average, analysts forecast that Monarch Casino & Resort, Inc. will post 4.46 earnings per share for the current year.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $68.00, for a total transaction of $136,000.00. Following the sale, the chief executive officer now owns 525,310 shares of the company’s stock, valued at approximately $35,721,080. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 24.94% of the stock is currently owned by company insiders.

Monarch Casino & Resort Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.