MML Investors Services LLC Sells 1,231 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

MML Investors Services LLC decreased its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 25.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,551 shares of the company’s stock after selling 1,231 shares during the period. MML Investors Services LLC’s holdings in Monarch Casino & Resort were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MCRI. Financial Management Professionals Inc. acquired a new stake in shares of Monarch Casino & Resort in the 3rd quarter valued at $30,000. GAMMA Investing LLC raised its holdings in Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after purchasing an additional 178 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Monarch Casino & Resort during the 2nd quarter valued at about $53,000. Canada Pension Plan Investment Board acquired a new position in Monarch Casino & Resort during the 2nd quarter valued at about $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Monarch Casino & Resort by 81.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after purchasing an additional 1,221 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MCRI shares. Wells Fargo & Company initiated coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They set an “underweight” rating and a $79.00 price target for the company. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. Stifel Nicolaus raised their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Finally, Truist Financial upped their price objective on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $78.50.

Monarch Casino & Resort Stock Up 0.6 %

Shares of NASDAQ MCRI opened at $78.15 on Thursday. Monarch Casino & Resort, Inc. has a twelve month low of $64.50 and a twelve month high of $89.06. The company’s fifty day moving average is $81.79 and its 200-day moving average is $76.01. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 17.29 and a beta of 1.72.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.10. The business had revenue of $137.87 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $1.38 EPS. On average, research analysts anticipate that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current fiscal year.

Monarch Casino & Resort Company 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.