Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Stake Lifted by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. increased its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 13.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,700 shares of the company’s stock after buying an additional 5,062 shares during the quarter. Westwood Holdings Group Inc. owned about 0.23% of Monarch Casino & Resort worth $2,909,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd bought a new position in Monarch Casino & Resort during the 1st quarter worth $536,000. Manning & Napier Advisors LLC bought a new position in Monarch Casino & Resort during the 2nd quarter worth $3,307,000. SG Americas Securities LLC bought a new position in Monarch Casino & Resort during the 2nd quarter worth $751,000. US Bancorp DE grew its stake in Monarch Casino & Resort by 8.6% during the 1st quarter. US Bancorp DE now owns 6,124 shares of the company’s stock worth $459,000 after buying an additional 483 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Monarch Casino & Resort by 68,100.0% during the 1st quarter. Russell Investments Group Ltd. now owns 10,230 shares of the company’s stock worth $767,000 after buying an additional 10,215 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCRI. Macquarie restated a “neutral” rating and set a $76.00 price objective on shares of Monarch Casino & Resort in a research note on Thursday, July 25th. Truist Financial increased their price target on Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th.

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI opened at $76.26 on Monday. Monarch Casino & Resort, Inc. has a 1 year low of $56.25 and a 1 year high of $80.22. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 18.03 and a beta of 1.73. The business has a fifty day moving average of $74.09 and a 200-day moving average of $70.76.

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

About Monarch Casino & Resort

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.