Intech Investment Management LLC Takes $444,000 Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Intech Investment Management LLC acquired a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the third quarter, according to its most recent filing with the SEC. The firm acquired 5,595 shares of the company’s stock, valued at approximately $444,000.

Several other institutional investors also recently bought and sold shares of MCRI. Financial Management Professionals Inc. acquired a new position 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% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after purchasing an additional 178 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Monarch Casino & Resort during the 2nd quarter worth approximately $53,000. Canada Pension Plan Investment Board acquired a new stake in shares of Monarch Casino & Resort in the 2nd quarter valued at approximately $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Monarch Casino & Resort by 81.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock worth $185,000 after acquiring an additional 1,221 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Price Performance

MCRI stock opened at $85.30 on Tuesday. Monarch Casino & Resort, Inc. has a 12 month low of $62.93 and a 12 month high of $86.68. The company’s 50 day simple moving average is $79.58 and its 200-day simple moving average is $73.95. The firm has a market capitalization of $1.57 billion, a PE ratio of 18.86 and a beta of 1.73.

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

Analyst Ratings Changes

MCRI has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 28th. Finally, 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 report on Wednesday, October 23rd.

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.