State of Alaska Department of Revenue Sells 434 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

State of Alaska Department of Revenue decreased its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,266 shares of the company’s stock after selling 434 shares during the period. State of Alaska Department of Revenue’s holdings in Monarch Casino & Resort were worth $575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MCRI. Financial Management Professionals Inc. bought a new stake in Monarch Casino & Resort during the third quarter valued at about $30,000. GAMMA Investing LLC lifted its position in shares of Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after buying an additional 178 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Monarch Casino & Resort during the 2nd quarter valued at about $53,000. Canada Pension Plan Investment Board bought a new position in shares of Monarch Casino & Resort during the 2nd quarter valued at approximately $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Monarch Casino & Resort by 81.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock worth $185,000 after acquiring an additional 1,221 shares in the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCRI has been the topic of several analyst reports. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Macquarie restated a “neutral” rating and set a $76.00 target price on shares of Monarch Casino & Resort in a research note on Thursday, July 25th. Stifel Nicolaus increased their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Finally, Truist Financial boosted their price objective on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd.

Monarch Casino & Resort Stock Performance

MCRI stock opened at $82.36 on Friday. The company’s fifty day moving average price is $76.93 and its 200-day moving average price is $72.16. Monarch Casino & Resort, Inc. has a one year low of $61.96 and a one year high of $83.91. The company has a market capitalization of $1.52 billion, a PE ratio of 18.22 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. The company had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same period in the previous year, the firm posted $1.38 EPS. On average, research analysts predict that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current fiscal year.

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.