Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Stake Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,661 shares of the company’s stock after selling 801 shares during the quarter. Victory Capital Management Inc.’s holdings in Monarch Casino & Resort were worth $604,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MCRI. Jane Street Group LLC grew its holdings in shares of Monarch Casino & Resort by 518.8% during the third quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after purchasing an additional 98,153 shares during the last quarter. Weiss Asset Management LP grew its holdings in shares of Monarch Casino & Resort by 1,289.7% during the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock valued at $6,279,000 after purchasing an additional 73,512 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Monarch Casino & Resort during the third quarter valued at approximately $2,349,000. Segall Bryant & Hamill LLC bought a new position in shares of Monarch Casino & Resort during the third quarter valued at approximately $1,868,000. Finally, DAVENPORT & Co LLC grew its holdings in shares of Monarch Casino & Resort by 1.6% during the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company’s stock valued at $98,696,000 after purchasing an additional 19,845 shares during the last quarter. 62.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on MCRI. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their target price for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. Stifel Nicolaus boosted their price objective on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Jefferies Financial Group boosted their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price objective on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $87.20.

Monarch Casino & Resort Price Performance

MCRI opened at $81.19 on Friday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.40 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 1-year low of $64.50 and a 1-year high of $96.11. The business has a 50 day moving average price of $86.69 and a two-hundred day moving average price of $82.02.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same period in the prior year, the business earned $1.03 earnings per share. Equities analysts expect that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the sale, the chief executive officer now directly owns 528,436 shares in the company, valued at $41,059,477.20. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 24.94% of the stock is currently owned by insiders.

About Monarch Casino & Resort

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.