SkyOak Wealth LLC Invests $320,000 in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

SkyOak Wealth LLC bought a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,697 shares of the company’s stock, valued at approximately $320,000.

Other large investors also recently modified their holdings of the company. UniSuper Management Pty Ltd acquired a new stake in shares of Monarch Casino & Resort during the 1st quarter worth $536,000. Manning & Napier Advisors LLC acquired a new stake in Monarch Casino & Resort in the second quarter valued at about $3,307,000. Westwood Holdings Group Inc. acquired a new stake in Monarch Casino & Resort in the first quarter valued at about $2,822,000. SG Americas Securities LLC acquired a new stake in Monarch Casino & Resort in the second quarter valued at about $751,000. Finally, US Bancorp DE boosted its stake in Monarch Casino & Resort by 8.6% in the first quarter. US Bancorp DE now owns 6,124 shares of the company’s stock valued at $459,000 after buying an additional 483 shares in the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Trading Up 0.3 %

Monarch Casino & Resort stock opened at $76.46 on Thursday. The company has a market capitalization of $1.43 billion, a PE ratio of 18.08 and a beta of 1.73. Monarch Casino & Resort, Inc. has a 12 month low of $56.25 and a 12 month high of $80.22. The stock has a 50-day moving average price of $73.60 and a two-hundred day moving average price of $70.60.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, July 24th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. The firm had revenue of $128.14 million during the quarter, compared to the consensus estimate of $126.03 million. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. As a group, analysts predict that Monarch Casino & Resort, Inc. will post 4.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Macquarie reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Monarch Casino & Resort in a research note on Thursday, July 25th. Truist Financial raised their price objective on Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, July 25th.

Insider Buying and Selling 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 stock was sold at an average price of $68.00, for a total value of $136,000.00. Following the completion of the transaction, the chief executive officer now directly owns 525,310 shares in the company, valued at $35,721,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 24.94% of the company’s stock.

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.