SG Americas Securities LLC Sells 3,181 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

SG Americas Securities LLC lessened its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 28.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,844 shares of the company’s stock after selling 3,181 shares during the quarter. SG Americas Securities LLC’s holdings in Monarch Casino & Resort were worth $622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in shares of Monarch Casino & Resort by 376.1% during the 2nd quarter. Millennium Management LLC now owns 85,869 shares of the company’s stock worth $5,850,000 after buying an additional 67,833 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Monarch Casino & Resort in the second quarter worth $3,307,000. American Century Companies Inc. lifted its position in shares of Monarch Casino & Resort by 17.3% in the second quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after purchasing an additional 46,323 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Monarch Casino & Resort in the first quarter worth $2,822,000. Finally, Vest Financial LLC acquired a new position in Monarch Casino & Resort during the first quarter worth $872,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

MCRI stock opened at $75.33 on Tuesday. The company’s 50-day simple moving average is $75.46 and its 200 day simple moving average is $71.35. Monarch Casino & Resort, Inc. has a 52 week low of $56.25 and a 52 week high of $80.22. The company has a market capitalization of $1.41 billion, a PE ratio of 17.81 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $126.03 million. On average, analysts forecast that Monarch Casino & Resort, Inc. will post 4.62 EPS for the current year.

Analyst Upgrades and Downgrades

MCRI has been the topic of a number of recent analyst reports. Macquarie restated a “neutral” rating and set a $76.00 target price on shares of Monarch Casino & Resort in a report on Thursday, July 25th. Truist Financial upped their price objective on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, July 25th.

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.