Exchange Traded Concepts LLC Has $769,000 Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Exchange Traded Concepts LLC grew its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 96.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,698 shares of the company’s stock after buying an additional 4,762 shares during the period. Exchange Traded Concepts LLC owned approximately 0.05% of Monarch Casino & Resort worth $769,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC increased 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 acquiring an additional 178 shares during the period. Meeder Asset Management Inc. bought a new stake in Monarch Casino & Resort in the second quarter valued at about $53,000. Canada Pension Plan Investment Board bought a new stake in Monarch Casino & Resort in the second quarter valued at about $102,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 acquiring an additional 1,221 shares during the period. Finally, Diversified Trust Co bought a new stake in Monarch Casino & Resort during the first quarter worth about $203,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MCRI. Truist Financial upped their price objective on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Macquarie reissued 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 NASDAQ MCRI opened at $75.92 on Friday. The company’s 50 day simple moving average is $75.73 and its 200 day simple moving average is $71.44. Monarch Casino & Resort, Inc. has a fifty-two week low of $56.25 and a fifty-two week high of $80.22. The firm has a market capitalization of $1.42 billion, a P/E ratio of 17.95 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data 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. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. The business had revenue of $128.14 million for the quarter, compared to analyst estimates of $126.03 million. Sell-side 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.