Nisa Investment Advisors LLC Buys 400 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Nisa Investment Advisors LLC boosted its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 30.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,693 shares of the company’s stock after acquiring an additional 400 shares during the period. Nisa Investment Advisors LLC’s holdings in Monarch Casino & Resort were worth $134,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in Monarch Casino & Resort in the 3rd quarter worth about $30,000. GAMMA Investing LLC raised its stake in Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after purchasing an additional 178 shares in the last quarter. Heritage Family Offices LLP bought a new stake in Monarch Casino & Resort during the third quarter valued at approximately $222,000. Versor Investments LP purchased a new position in Monarch Casino & Resort in the 3rd quarter worth approximately $230,000. Finally, Ritholtz Wealth Management bought a new position in shares of Monarch Casino & Resort in the 4th quarter worth $254,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock opened at $85.88 on Friday. Monarch Casino & Resort, Inc. has a fifty-two week low of $64.50 and a fifty-two week high of $89.06. The firm has a market cap of $1.58 billion, a P/E ratio of 19.00 and a beta of 1.73. The business’s 50 day moving average price is $82.47 and its 200-day moving average price is $78.47.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MCRI. Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their target price for the company from $82.00 to $100.00 in a research note on Tuesday, January 14th. Wells Fargo & Company started coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price target on the stock. Jefferies Financial Group lifted their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Finally, StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.00.

Insider Activity at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the transaction, the chief executive officer now owns 528,436 shares in the company, valued at $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.94% of the stock is currently owned by company insiders.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.