Barclays PLC Has $2.66 Million Stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Barclays PLC increased its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 108.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,508 shares of the company’s stock after acquiring an additional 17,413 shares during the period. Barclays PLC owned about 0.18% of Monarch Casino & Resort worth $2,656,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. bought a new stake in shares of Monarch Casino & Resort during the third quarter worth about $30,000. GAMMA Investing LLC increased its position in Monarch Casino & Resort by 61.0% in the 3rd 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 position in shares of Monarch Casino & Resort during the second quarter valued at $53,000. Canada Pension Plan Investment Board acquired a new position in shares of Monarch Casino & Resort during the second quarter worth $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew 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 worth $185,000 after purchasing an additional 1,221 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock opened at $78.15 on Wednesday. The stock’s 50-day moving average is $81.78 and its 200 day moving average is $75.99. Monarch Casino & Resort, Inc. has a one year low of $64.50 and a one year high of $89.06. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 17.29 and a beta of 1.72.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. The firm had revenue of $137.87 million for the quarter, compared to analysts’ expectations of $134.50 million. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same period in the prior year, the business earned $1.38 EPS. On average, sell-side analysts expect that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Monarch Casino & Resort

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.