JPMorgan Chase & Co. Sells 20,806 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

JPMorgan Chase & Co. lowered its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 2.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 845,970 shares of the company’s stock after selling 20,806 shares during the period. JPMorgan Chase & Co.’s holdings in Monarch Casino & Resort were worth $67,060,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of Monarch Casino & Resort by 7.3% in the 3rd quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock valued at $665,000 after purchasing an additional 597 shares during the period. Barclays PLC lifted its holdings in Monarch Casino & Resort by 108.2% during the 3rd quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after buying an additional 17,413 shares in the last quarter. Jane Street Group LLC boosted its holdings in Monarch Casino & Resort by 518.8% in the third quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after acquiring an additional 98,153 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Monarch Casino & Resort by 3.9% during the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after buying an additional 8,283 shares during the period. Finally, Weiss Asset Management LP lifted its holdings in Monarch Casino & Resort by 1,289.7% in the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock valued at $6,279,000 after buying an additional 73,512 shares during the period. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Up 0.6 %

MCRI opened at $78.24 on Friday. The firm has a 50-day moving average price of $82.13 and a 200-day moving average price of $76.49. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 17.31 and a beta of 1.73. Monarch Casino & Resort, Inc. has a twelve month low of $64.50 and a twelve month high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.10. The firm 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 quarter last year, the company posted $1.38 EPS. On average, sell-side analysts expect that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MCRI shares. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Wells Fargo & Company initiated coverage on shares of Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price target on the stock. Jefferies Financial Group upped their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday. Stifel Nicolaus upped their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Finally, Truist Financial raised their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Monarch Casino & Resort has a consensus rating of “Hold” and an average target price of $80.40.

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.