TD Asset Management Inc Trims Stock Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

TD Asset Management Inc cut its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 4.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,000 shares of the company’s stock after selling 500 shares during the quarter. TD Asset Management Inc owned about 0.06% of Monarch Casino & Resort worth $749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MCRI. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Monarch Casino & Resort by 81.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock worth $185,000 after buying an additional 1,221 shares during the period. Diversified Trust Co bought a new stake in Monarch Casino & Resort during the first quarter worth about $203,000. ProShare Advisors LLC purchased a new stake in Monarch Casino & Resort in the first quarter worth about $204,000. Choate Investment Advisors bought a new position in shares of Monarch Casino & Resort during the first quarter valued at approximately $225,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Monarch Casino & Resort in the 1st quarter worth approximately $239,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Monarch Casino & Resort Stock Up 0.7 %

Shares of MCRI opened at $75.36 on Monday. Monarch Casino & Resort, Inc. has a twelve month low of $56.25 and a twelve month high of $80.22. The company has a market capitalization of $1.39 billion, a P/E ratio of 17.82 and a beta of 1.73. The firm has a 50 day moving average of $73.24 and a 200 day moving average of $70.52.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, July 24th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. The business had revenue of $128.14 million during the quarter, compared to analyst estimates of $126.03 million. On average, sell-side analysts expect that Monarch Casino & Resort, Inc. will post 4.62 EPS for the current year.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $68.00, for a total transaction of $136,000.00. Following the transaction, the chief executive officer now owns 525,310 shares in the company, valued at approximately $35,721,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 24.94% of the stock is owned by corporate insiders.

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.