Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 22.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,297 shares of the company’s stock after selling 1,274 shares during the quarter. Truist Financial Corp’s holdings in Monarch Casino & Resort were worth $303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in shares of Monarch Casino & Resort by 131.2% during the second quarter. Assenagon Asset Management S.A. now owns 120,409 shares of the company’s stock valued at $8,483,000 after purchasing an additional 68,324 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Monarch Casino & Resort by 16.0% during the first quarter. Panagora Asset Management Inc. now owns 79,138 shares of the company’s stock valued at $5,868,000 after purchasing an additional 10,937 shares during the last quarter. Tributary Capital Management LLC grew its holdings in shares of Monarch Casino & Resort by 9.5% during the second quarter. Tributary Capital Management LLC now owns 264,481 shares of the company’s stock valued at $18,633,000 after purchasing an additional 22,933 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Monarch Casino & Resort by 267.8% during the first quarter. Nisa Investment Advisors LLC now owns 3,571 shares of the company’s stock valued at $265,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Prelude Capital Management LLC grew its holdings in shares of Monarch Casino & Resort by 54.6% during the first quarter. Prelude Capital Management LLC now owns 6,521 shares of the company’s stock valued at $484,000 after purchasing an additional 2,303 shares during the last quarter. Institutional investors and hedge funds own 61.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCRI. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Stifel Nicolaus lowered their target price on Monarch Casino & Resort from $91.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, October 19th. Finally, Truist Financial lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $90.00 to $65.00 in a report on Thursday, October 19th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.33.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock opened at $62.92 on Monday. Monarch Casino & Resort, Inc. has a 12-month low of $56.25 and a 12-month high of $85.67. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 14.27 and a beta of 1.64. The business has a 50 day simple moving average of $62.63 and a 200 day simple moving average of $66.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.54 and a quick ratio of 0.48.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, October 18th. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.08). Monarch Casino & Resort had a return on equity of 18.03% and a net margin of 17.55%. The business had revenue of $132.97 million during the quarter, compared to the consensus estimate of $135.27 million. On average, equities research analysts anticipate that Monarch Casino & Resort, Inc. will post 4.34 EPS for the current year.

Insiders Place Their Bets

In other Monarch Casino & Resort news, President Bob Farahi sold 24,704 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $66.67, for a total value of $1,647,015.68. Following the completion of the sale, the president now directly owns 961,774 shares in the company, valued at $64,121,472.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 35,104 shares of company stock worth $2,353,443 over the last ninety days. Company insiders own 24.56% of the company’s stock.

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 founded in 1972 and is based in Reno, Nevada.