BNP Paribas Financial Markets Acquires 2,117 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

BNP Paribas Financial Markets grew its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 39.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,446 shares of the company’s stock after acquiring an additional 2,117 shares during the period. BNP Paribas Financial Markets’ holdings in Monarch Casino & Resort were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCRI. SG Americas Securities LLC acquired a new position in Monarch Casino & Resort in the 2nd quarter valued at about $751,000. American Century Companies Inc. raised its stake in Monarch Casino & Resort by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after purchasing an additional 46,323 shares in the last quarter. Versor Investments LP acquired a new stake in Monarch Casino & Resort in the 3rd quarter worth about $230,000. Marshall Wace LLP bought a new stake in Monarch Casino & Resort in the 2nd quarter valued at about $298,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Monarch Casino & Resort during the 2nd quarter worth approximately $102,000. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Trading Down 0.4 %

NASDAQ MCRI opened at $87.24 on Friday. The firm’s 50 day simple moving average is $81.27 and its 200 day simple moving average is $75.23. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 19.30 and a beta of 1.72. Monarch Casino & Resort, Inc. has a 1 year low of $64.50 and a 1 year high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The firm had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. During the same quarter last year, the business posted $1.38 EPS. On average, equities research analysts forecast that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current year.

Wall Street Analyst Weigh In

MCRI has been the subject of several recent research reports. StockNews.com upgraded Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 28th. Stifel Nicolaus upped their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Finally, Truist Financial increased their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd.

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.