Ritholtz Wealth Management Makes New Investment in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Ritholtz Wealth Management purchased a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRIFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,223 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MCRI. Financial Management Professionals Inc. acquired a new position in Monarch Casino & Resort during the third quarter valued at approximately $30,000. GAMMA Investing LLC boosted its position in shares of Monarch Casino & Resort by 61.0% during the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after purchasing an additional 178 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Monarch Casino & Resort in the 2nd quarter valued at $102,000. Heritage Family Offices LLP bought a new stake in shares of Monarch Casino & Resort in the 3rd quarter valued at $222,000. Finally, Versor Investments LP acquired a new stake in Monarch Casino & Resort during the 3rd quarter worth $230,000. 62.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on MCRI shares. Stifel Nicolaus boosted their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Jefferies Financial Group increased their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Wells Fargo & Company started coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target on the stock. Truist Financial raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and increased their price objective for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th. Finally, StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Monarch Casino & Resort currently has an average rating of “Hold” and a consensus price target of $84.00.

Check Out Our Latest Stock Analysis on MCRI

Monarch Casino & Resort Stock Up 0.1 %

Shares of MCRI opened at $83.87 on Thursday. The company has a 50 day moving average of $82.26 and a 200-day moving average of $77.81. The stock has a market capitalization of $1.54 billion, a P/E ratio of 18.56 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:MCRIGet Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The firm had revenue of $137.87 million for the quarter, compared to analyst estimates of $134.50 million. During the same period in the previous year, the business earned $1.38 EPS. On average, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the sale, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 24.94% of the stock is owned by company insiders.

Monarch Casino & Resort Company Profile

(Free Report)

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.

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Institutional Ownership by Quarter for Monarch Casino & Resort (NASDAQ:MCRI)

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