Bank of New York Mellon Corp Has $11.94 Million Stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Bank of New York Mellon Corp cut its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 8.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 151,372 shares of the company’s stock after selling 14,121 shares during the quarter. Bank of New York Mellon Corp’s holdings in Monarch Casino & Resort were worth $11,943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCRI. Golden State Wealth Management LLC bought a new position in shares of Monarch Casino & Resort during the fourth quarter worth about $53,000. KBC Group NV increased its position in Monarch Casino & Resort by 67.8% during the 4th quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after purchasing an additional 396 shares during the period. Independence Bank of Kentucky bought a new position in Monarch Casino & Resort during the 4th quarter worth approximately $93,000. Nisa Investment Advisors LLC raised its holdings in Monarch Casino & Resort by 30.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after purchasing an additional 400 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Monarch Casino & Resort by 49.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,760 shares of the company’s stock worth $218,000 after purchasing an additional 917 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the transaction, the chief executive officer now owns 528,436 shares in the company, valued at $41,059,477.20. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 24.94% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MCRI. Jefferies Financial Group increased their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their price objective for the company from $82.00 to $100.00 in a research note on Tuesday, January 14th. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $87.20.

Monarch Casino & Resort Stock Down 1.1 %

MCRI opened at $83.70 on Friday. The firm has a 50-day moving average price of $86.11 and a 200-day moving average price of $81.70. Monarch Casino & Resort, Inc. has a twelve month low of $64.50 and a twelve month high of $96.11. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 16.91 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same period last year, the business posted $1.03 earnings per share. On average, sell-side analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Monarch Casino & Resort Company Profile

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.