JPMorgan Chase & Co. Decreases Stock Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

JPMorgan Chase & Co. cut its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 845,970 shares of the company’s stock after selling 20,806 shares during the period. JPMorgan Chase & Co. owned 4.60% of Monarch Casino & Resort worth $67,060,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Franklin Resources Inc. lifted its position in Monarch Casino & Resort by 7.3% during the third quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock valued at $665,000 after purchasing an additional 597 shares during the last quarter. Barclays PLC increased its holdings in Monarch Casino & Resort by 108.2% during the third quarter. Barclays PLC now owns 33,508 shares of the company’s stock valued at $2,656,000 after buying an additional 17,413 shares during the period. Jane Street Group LLC raised its position in shares of Monarch Casino & Resort by 518.8% in the 3rd quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock worth $9,280,000 after acquiring an additional 98,153 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Monarch Casino & Resort by 3.9% during the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock valued at $17,410,000 after buying an additional 8,283 shares during the last quarter. Finally, Weiss Asset Management LP boosted its stake in Monarch Casino & Resort by 1,289.7% in the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock valued at $6,279,000 after acquiring an additional 73,512 shares in the last quarter. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Stock Up 0.6 %

NASDAQ:MCRI opened at $78.24 on Friday. Monarch Casino & Resort, Inc. has a 52-week low of $64.50 and a 52-week high of $89.06. The company has a market capitalization of $1.44 billion, a PE ratio of 17.31 and a beta of 1.73. The stock has a fifty day simple moving average of $82.13 and a 200-day simple moving average of $76.49.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The firm had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. During the same quarter in the prior year, the business posted $1.38 earnings per share. As a group, equities analysts anticipate that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial upped their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Wells Fargo & Company began coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price target for the company. Finally, Jefferies Financial Group increased their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.40.

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.