Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 81.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,712 shares of the company’s stock after purchasing an additional 1,221 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Monarch Casino & Resort were worth $185,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co purchased a new position in shares of Monarch Casino & Resort during the 1st quarter worth approximately $203,000. ProShare Advisors LLC acquired a new position in shares of Monarch Casino & Resort in the 1st quarter valued at about $204,000. Choate Investment Advisors purchased a new stake in Monarch Casino & Resort during the first quarter worth approximately $225,000. Quadrature Capital Ltd acquired a new stake in shares of Monarch Casino & Resort in the first quarter worth $239,000. Finally, Aristides Capital LLC purchased a new position in shares of Monarch Casino & Resort in the 1st quarter valued at $270,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on MCRI shares. Macquarie reaffirmed a “neutral” rating and issued a $76.00 price target on shares of Monarch Casino & Resort in a report on Thursday, July 25th. Truist Financial upped their price objective on Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, July 25th.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $68.00, for a total value of $136,000.00. Following the transaction, the chief executive officer now owns 525,310 shares of the company’s stock, valued at $35,721,080. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 24.94% of the company’s stock.

Monarch Casino & Resort Trading Up 0.5 %

MCRI stock opened at $75.59 on Tuesday. The business’s 50 day moving average is $72.58 and its 200-day moving average is $70.35. Monarch Casino & Resort, Inc. has a 1-year low of $56.25 and a 1-year high of $80.22. The firm has a market cap of $1.39 billion, a P/E ratio of 17.87 and a beta of 1.73.

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