Amalgamated Bank Sells 142 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Amalgamated Bank reduced its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,900 shares of the company’s stock after selling 142 shares during the quarter. Amalgamated Bank’s holdings in Monarch Casino & Resort were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCRI. UniSuper Management Pty Ltd bought a new position in Monarch Casino & Resort in the first quarter valued at $536,000. Manning & Napier Advisors LLC bought a new position in shares of Monarch Casino & Resort in the second quarter valued at $3,307,000. Westwood Holdings Group Inc. acquired a new stake in Monarch Casino & Resort in the 1st quarter valued at about $2,822,000. SG Americas Securities LLC acquired a new stake in shares of Monarch Casino & Resort in the second quarter valued at approximately $751,000. Finally, US Bancorp DE boosted its position in Monarch Casino & Resort by 8.6% during the first quarter. US Bancorp DE now owns 6,124 shares of the company’s stock worth $459,000 after purchasing an additional 483 shares during the period. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCRI has been the topic of a number of research reports. Macquarie reiterated a “neutral” rating and issued a $76.00 price target on shares of Monarch Casino & Resort in a research note on Thursday, July 25th. Truist Financial increased their target price on 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 0.4 %

Shares of Monarch Casino & Resort stock opened at $79.27 on Tuesday. The company has a 50-day simple moving average of $75.07 and a two-hundred day simple moving average of $71.06. Monarch Casino & Resort, Inc. has a twelve month low of $56.25 and a twelve month high of $80.22. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 18.74 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 (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. The business had revenue of $128.14 million during the quarter, compared to analysts’ expectations of $126.03 million. On average, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 4.62 earnings per share for the current fiscal year.

Monarch Casino & Resort Company 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.