Whittier Trust Co. Decreases Stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Whittier Trust Co. lessened its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 26.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,656 shares of the company’s stock after selling 591 shares during the quarter. Whittier Trust Co.’s holdings in Monarch Casino & Resort were worth $131,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UniSuper Management Pty Ltd acquired a new position in Monarch Casino & Resort during the first quarter worth approximately $536,000. Manning & Napier Advisors LLC acquired a new position in Monarch Casino & Resort during the second quarter worth approximately $3,307,000. Westwood Holdings Group Inc. acquired a new position in shares of Monarch Casino & Resort in the first quarter valued at approximately $2,822,000. SG Americas Securities LLC acquired a new position in shares of Monarch Casino & Resort in the second quarter valued at approximately $751,000. Finally, US Bancorp DE raised its stake in shares of Monarch Casino & Resort by 8.6% during the first 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 last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

MCRI has been the subject of several analyst reports. StockNews.com upgraded Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Monday. Macquarie restated a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a research note on Thursday, July 25th. Truist Financial upped their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Stifel Nicolaus upped their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $78.43 on Friday. The business’s fifty day moving average price is $75.90 and its 200 day moving average price is $71.52. Monarch Casino & Resort, Inc. has a 1-year low of $57.88 and a 1-year high of $80.22. The firm has a market capitalization of $1.47 billion, a PE ratio of 18.54 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.19 earnings per share 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 firm had revenue of $128.14 million for the quarter, compared to analyst estimates of $126.03 million. Equities research analysts expect that Monarch Casino & Resort, Inc. will post 4.62 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.