Fmr LLC Buys 1,396 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Fmr LLC lifted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,098 shares of the company’s stock after purchasing an additional 1,396 shares during the period. Fmr LLC owned about 0.73% of Monarch Casino & Resort worth $10,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC bought a new position in Monarch Casino & Resort during the third quarter valued at $444,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Monarch Casino & Resort by 141.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,736 shares of the company’s stock valued at $613,000 after purchasing an additional 4,528 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Monarch Casino & Resort during the 3rd quarter valued at about $1,868,000. Victory Capital Management Inc. grew its position in shares of Monarch Casino & Resort by 58.9% in the 3rd quarter. Victory Capital Management Inc. now owns 8,462 shares of the company’s stock worth $671,000 after buying an additional 3,138 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Monarch Casino & Resort in the 3rd quarter worth approximately $309,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $87.02 on Thursday. The business has a 50-day simple moving average of $80.87 and a 200-day simple moving average of $75.00. The company has a market cap of $1.60 billion, a PE ratio of 19.25 and a beta of 1.72. Monarch Casino & Resort, Inc. has a one year low of $64.37 and a one year high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. The business had revenue of $137.87 million for the quarter, compared to analyst estimates of $134.50 million. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same quarter last year, the company earned $1.38 earnings per share. On average, sell-side analysts predict that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MCRI has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus upped their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Finally, StockNews.com raised Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th.

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.