Whittier Trust Co. Sells 133 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Whittier Trust Co. trimmed its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 5.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,247 shares of the company’s stock after selling 133 shares during the quarter. Whittier Trust Co.’s holdings in Monarch Casino & Resort were worth $153,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Monarch Casino & Resort by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company’s stock worth $12,177,000 after purchasing an additional 1,400 shares in the last quarter. Tributary Capital Management LLC increased its stake in Monarch Casino & Resort by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 276,426 shares of the company’s stock worth $18,833,000 after purchasing an additional 827 shares in the last quarter. SG Americas Securities LLC bought a new stake in Monarch Casino & Resort during the 2nd quarter worth approximately $751,000. Annex Advisory Services LLC grew its stake in shares of Monarch Casino & Resort by 12.0% during the 2nd quarter. Annex Advisory Services LLC now owns 15,768 shares of the company’s stock worth $1,074,000 after acquiring an additional 1,690 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of Monarch Casino & Resort during the 2nd quarter worth approximately $3,307,000. 62.37% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO John Farahi sold 2,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $68.00, for a total value of $136,000.00. Following the completion of the sale, the chief executive officer now owns 525,310 shares of the company’s stock, valued at approximately $35,721,080. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 24.94% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on MCRI. Truist Financial raised their price target on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Macquarie reaffirmed a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a research note on Thursday, July 25th.

Monarch Casino & Resort Stock Down 0.2 %

Shares of MCRI opened at $75.38 on Friday. The stock has a market capitalization of $1.41 billion, a P/E ratio of 17.82 and a beta of 1.74. Monarch Casino & Resort, Inc. has a twelve month low of $56.25 and a twelve month high of $80.22. The company has a 50 day moving average of $71.51 and a 200-day moving average of $69.99.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. The company had revenue of $128.14 million during the quarter, compared to the consensus estimate of $126.03 million. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. On average, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 4.62 earnings per share for the current fiscal year.

About Monarch Casino & Resort

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.