Marshall Wace LLP Acquires Shares of 4,374 Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Marshall Wace LLP acquired a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,374 shares of the company’s stock, valued at approximately $298,000.

A number of other large investors also recently modified their holdings of the company. Texas Permanent School Fund Corp boosted its holdings in shares of Monarch Casino & Resort by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 11,682 shares of the company’s stock valued at $876,000 after buying an additional 152 shares in the last quarter. Pitcairn Co. boosted its stake in Monarch Casino & Resort by 4.3% during the 1st quarter. Pitcairn Co. now owns 5,698 shares of the company’s stock worth $427,000 after purchasing an additional 235 shares during the period. Sei Investments Co. boosted its stake in Monarch Casino & Resort by 1.4% during the 2nd 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. Price T Rowe Associates Inc. MD boosted its stake in Monarch Casino & Resort by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,851 shares of the company’s stock worth $289,000 after purchasing an additional 443 shares during the period. Finally, US Bancorp DE boosted its stake in Monarch Casino & Resort by 8.6% during the 1st quarter. US Bancorp DE now owns 6,124 shares of the company’s stock worth $459,000 after purchasing an additional 483 shares during the period. 62.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on MCRI. Macquarie restated 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 increased 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.

Monarch Casino & Resort Stock Performance

MCRI opened at $75.73 on Friday. The company’s 50 day simple moving average is $75.38 and its 200 day simple moving average is $71.38. 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 $1.40 billion, a PE ratio of 17.69 and a beta of 1.73.

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