Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Swiss National Bank

Swiss National Bank cut its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,311 shares of the company’s stock after selling 200 shares during the quarter. Swiss National Bank owned approximately 0.15% of Monarch Casino & Resort worth $2,155,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC boosted its holdings in shares of Monarch Casino & Resort by 1.6% in the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company’s stock valued at $98,696,000 after acquiring an additional 19,845 shares during the period. Janus Henderson Group PLC boosted its stake in Monarch Casino & Resort by 0.9% during the 3rd quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock worth $30,809,000 after purchasing an additional 3,488 shares during the period. Wellington Management Group LLP grew its position in Monarch Casino & Resort by 3.9% during the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after purchasing an additional 8,283 shares during the last quarter. FMR LLC increased its stake in Monarch Casino & Resort by 1.1% in the third quarter. FMR LLC now owns 134,098 shares of the company’s stock valued at $10,630,000 after purchasing an additional 1,396 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Monarch Casino & Resort by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 118,512 shares of the company’s stock valued at $9,351,000 after buying an additional 5,674 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

MCRI has been the topic of a number of research reports. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus boosted their target price on Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their price target for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. Jefferies Financial Group lifted their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company upped their price objective on shares of 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 issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $87.20.

Insider Transactions 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 value of $77,700.00. Following the sale, the chief executive officer now directly owns 528,436 shares in the company, valued at $41,059,477.20. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 24.94% of the company’s stock.

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI opened at $80.48 on Friday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 16.26 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 stock has a fifty day moving average price of $86.60 and a two-hundred day moving average price of $82.18.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same period in the previous year, the business earned $1.03 earnings per share. On average, analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

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.