Maryland State Retirement & Pension System Sells 237 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Maryland State Retirement & Pension System lessened its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 4.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,573 shares of the company’s stock after selling 237 shares during the period. Maryland State Retirement & Pension System’s holdings in Monarch Casino & Resort were worth $312,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MCRI. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Monarch Casino & Resort by 81.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after purchasing an additional 1,221 shares during the period. Bank of New York Mellon Corp lifted 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. Tributary Capital Management LLC grew its position in Monarch Casino & Resort by 0.3% during the second quarter. Tributary Capital Management LLC now owns 276,426 shares of the company’s stock worth $18,833,000 after buying an additional 827 shares in the last quarter. SG Americas Securities LLC bought a new position in Monarch Casino & Resort during the second quarter valued at about $751,000. Finally, Annex Advisory Services LLC raised its holdings in Monarch Casino & Resort by 12.0% in the 2nd quarter. Annex Advisory Services LLC now owns 15,768 shares of the company’s stock valued at $1,074,000 after acquiring an additional 1,690 shares in the last quarter. Institutional investors own 62.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MCRI. Macquarie reissued a “neutral” rating and set a $76.00 price objective on shares of Monarch Casino & Resort in a report on Thursday, July 25th. Truist Financial lifted their price target on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th.

Monarch Casino & Resort Stock Up 0.7 %

Shares of MCRI opened at $75.27 on Thursday. The company has a 50-day moving average price of $72.11 and a two-hundred day moving average price of $70.18. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 17.79 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 12 month low of $56.25 and a 12 month high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, July 24th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $128.14 million during the quarter, compared to analysts’ expectations of $126.03 million. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. Equities research analysts expect that Monarch Casino & Resort, Inc. will post 4.62 EPS for the current fiscal year.

Insider Buying and Selling at Monarch Casino & Resort

In related news, CEO John Farahi sold 2,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $68.00, for a total transaction of $136,000.00. Following the completion of the sale, the chief executive officer now owns 525,310 shares in the company, valued at approximately $35,721,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 24.94% of the company’s stock.

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.