Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Acquired by Millennium Management LLC

Millennium Management LLC grew its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 376.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,869 shares of the company’s stock after buying an additional 67,833 shares during the period. Millennium Management LLC owned 0.46% of Monarch Casino & Resort worth $5,850,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Monarch Casino & Resort during the second quarter worth approximately $53,000. Canada Pension Plan Investment Board purchased a new position in shares of Monarch Casino & Resort in the 2nd quarter valued at about $102,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Monarch Casino & Resort by 81.9% in the second 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 period. Diversified Trust Co purchased a new stake in Monarch Casino & Resort during the first quarter worth about $203,000. Finally, ProShare Advisors LLC acquired a new position in Monarch Casino & Resort during the first quarter worth about $204,000. 62.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCRI. Truist Financial upped their price target on Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Macquarie reaffirmed a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a research note on Thursday, July 25th.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock opened at $75.47 on Friday. The business has a 50 day moving average price of $75.32 and a 200 day moving average price of $71.36. The company has a market capitalization of $1.41 billion, a P/E ratio of 17.84 and a beta of 1.73. Monarch Casino & Resort, Inc. has a 1 year low of $56.25 and a 1 year high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, July 24th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. The firm had revenue of $128.14 million during the quarter, compared to the consensus estimate of $126.03 million. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. As a group, research analysts expect that Monarch Casino & Resort, Inc. will post 4.62 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.