Principal Financial Group Inc. Has $5.15 Million Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Principal Financial Group Inc. trimmed its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 5.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,022 shares of the company’s stock after selling 3,566 shares during the period. Principal Financial Group Inc.’s holdings in Monarch Casino & Resort were worth $5,154,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Millennium Management LLC lifted its holdings 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 acquiring an additional 67,833 shares during the period. Manning & Napier Advisors LLC bought a new stake in Monarch Casino & Resort during the second quarter worth $3,307,000. American Century Companies Inc. boosted its holdings in shares of Monarch Casino & Resort by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after purchasing an additional 46,323 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Monarch Casino & Resort in the 1st quarter valued at $2,822,000. Finally, Renaissance Technologies LLC increased its stake in shares of Monarch Casino & Resort by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 110,100 shares of the company’s stock valued at $7,501,000 after purchasing an additional 11,500 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MCRI shares. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 6th. Truist Financial upped their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus raised their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Finally, Macquarie reiterated a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a report on Thursday, July 25th.

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock opened at $83.40 on Thursday. The business has a 50 day moving average of $78.36 and a 200-day moving average of $73.11. Monarch Casino & Resort, Inc. has a 1 year low of $62.03 and a 1 year high of $84.43. The company has a market capitalization of $1.53 billion, a P/E ratio of 18.45 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The firm had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. During the same quarter last year, the firm earned $1.38 earnings per share. Equities analysts anticipate that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

Monarch Casino & Resort 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.