HighTower Advisors LLC Makes New $258,000 Investment in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

HighTower Advisors LLC acquired a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,150 shares of the company’s stock, valued at approximately $258,000.

A number of other large investors have also recently modified their holdings of MCRI. American Century Companies Inc. boosted its holdings in shares of Monarch Casino & Resort by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after acquiring an additional 46,323 shares in the last quarter. Versor Investments LP acquired a new position in shares of Monarch Casino & Resort in the third quarter valued at approximately $230,000. Marshall Wace LLP bought a new position in Monarch Casino & Resort in the 2nd quarter valued at approximately $298,000. Canada Pension Plan Investment Board acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth approximately $102,000. Finally, Atom Investors LP acquired a new position in Monarch Casino & Resort in the 3rd quarter valued at approximately $1,174,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on MCRI shares. Truist Financial lifted their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Wells Fargo & Company began coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They issued an “underweight” rating and a $79.00 price objective on the stock. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Finally, Stifel Nicolaus upped their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.50.

Monarch Casino & Resort Trading Up 0.6 %

MCRI opened at $78.15 on Wednesday. Monarch Casino & Resort, Inc. has a 12 month low of $64.50 and a 12 month high of $89.06. The company has a market cap of $1.44 billion, a PE ratio of 17.29 and a beta of 1.72. The company has a 50 day moving average of $81.78 and a 200 day moving average of $75.99.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The company had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. During the same quarter last year, the company earned $1.38 earnings per share. Research analysts forecast that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Monarch Casino & Resort 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.