Millennium Management LLC Boosts Stock Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Millennium Management LLC grew its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 376.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 85,869 shares of the company’s stock after purchasing an additional 67,833 shares during the quarter. Millennium Management LLC’s holdings in Monarch Casino & Resort were worth $5,850,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in shares of Monarch Casino & Resort during the second quarter worth about $516,000. Marshall Wace LLP acquired a new stake in shares of Monarch Casino & Resort during the 2nd quarter valued at approximately $298,000. Public Sector Pension Investment Board lifted its stake in Monarch Casino & Resort by 4.1% during the second quarter. Public Sector Pension Investment Board now owns 28,829 shares of the company’s stock worth $1,964,000 after purchasing an additional 1,124 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Monarch Casino & Resort by 13.4% in the second quarter. Westwood Holdings Group Inc. now owns 42,700 shares of the company’s stock worth $2,909,000 after purchasing an additional 5,062 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Monarch Casino & Resort by 1.4% during the second quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock worth $1,342,000 after purchasing an additional 271 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Macquarie restated a “neutral” rating and issued a $76.00 target price on shares of Monarch Casino & Resort in a research note on Thursday, July 25th.

Monarch Casino & Resort Stock Performance

MCRI stock opened at $75.47 on Friday. Monarch Casino & Resort, Inc. has a 1 year low of $56.25 and a 1 year high of $80.22. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 17.84 and a beta of 1.73. The stock’s fifty day moving average is $75.32 and its two-hundred day moving average is $71.36.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $128.14 million for the quarter, compared to analyst estimates of $126.03 million. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. As a group, analysts predict that Monarch Casino & Resort, Inc. will post 4.62 EPS for the current fiscal year.

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.