Cerity Partners LLC Invests $6.56 Million in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Cerity Partners LLC purchased a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 94,888 shares of the company’s stock, valued at approximately $6,562,000.

Other hedge funds have also bought and sold shares of the company. State of Wyoming purchased a new stake in shares of Monarch Casino & Resort during the 4th quarter valued at $28,000. Allspring Global Investments Holdings LLC increased its holdings in Monarch Casino & Resort by 40.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 637 shares of the company’s stock worth $40,000 after buying an additional 184 shares during the last quarter. UBS Group AG raised its position in Monarch Casino & Resort by 214.2% in the third quarter. UBS Group AG now owns 1,458 shares of the company’s stock worth $82,000 after acquiring an additional 994 shares during the period. Captrust Financial Advisors boosted its stake in Monarch Casino & Resort by 30.0% in the first quarter. Captrust Financial Advisors now owns 1,593 shares of the company’s stock valued at $139,000 after acquiring an additional 368 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Monarch Casino & Resort by 29.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,367 shares of the company’s stock valued at $147,000 after acquiring an additional 537 shares during the period. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Stock Performance

NASDAQ MCRI opened at $70.55 on Tuesday. The firm has a market cap of $1.33 billion, a P/E ratio of 16.80 and a beta of 1.66. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $70.80 and its 200-day moving average is $66.96. Monarch Casino & Resort, Inc. has a 12-month low of $56.25 and a 12-month high of $77.19.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). The business had revenue of $128.19 million during the quarter, compared to analysts’ expectations of $119.33 million. Monarch Casino & Resort had a net margin of 16.44% and a return on equity of 17.41%. Sell-side analysts predict that Monarch Casino & Resort, Inc. will post 4.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MCRI shares. StockNews.com upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Stifel Nicolaus restated a “hold” rating and issued a $70.00 target price on shares of Monarch Casino & Resort in a research note on Friday, January 5th. Finally, Truist Financial increased their price target on Monarch Casino & Resort from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Thursday, February 15th.

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.