Wellington Management Group LLP Acquires 8,283 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Wellington Management Group LLP boosted its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 219,625 shares of the company’s stock after acquiring an additional 8,283 shares during the quarter. Wellington Management Group LLP owned 1.19% of Monarch Casino & Resort worth $17,410,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Monarch Casino & Resort by 0.9% during the third quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock worth $30,809,000 after purchasing an additional 3,488 shares during the period. American Century Companies Inc. grew its position in shares of Monarch Casino & Resort by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after buying an additional 46,323 shares during the last quarter. Tributary Capital Management LLC increased its stake in shares of Monarch Casino & Resort by 0.3% in the second quarter. Tributary Capital Management LLC now owns 276,426 shares of the company’s stock valued at $18,833,000 after buying an additional 827 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Monarch Casino & Resort by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company’s stock valued at $12,177,000 after buying an additional 1,400 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Monarch Casino & Resort by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock worth $11,949,000 after acquiring an additional 9,990 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCRI. Stifel Nicolaus increased their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Truist Financial lifted their target price on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com raised shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 28th.

Monarch Casino & Resort Stock Performance

Shares of MCRI opened at $87.24 on Friday. The business’s 50 day moving average price is $81.27 and its two-hundred day moving average price is $75.30. The firm has a market cap of $1.60 billion, a PE ratio of 19.30 and a beta of 1.72. Monarch Casino & Resort, Inc. has a 52-week low of $64.50 and a 52-week high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. The business had revenue of $137.87 million during 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 posted $1.38 earnings per share. Research analysts predict that Monarch Casino & Resort, Inc. will post 4.72 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.