Cerity Partners LLC Takes Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Cerity Partners LLC purchased a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,886 shares of the company’s stock, valued at approximately $386,000.

Several other institutional investors also recently modified their holdings of the business. HighTower Advisors LLC purchased a new position in shares of Monarch Casino & Resort in the 3rd quarter worth about $258,000. Barclays PLC increased its stake in Monarch Casino & Resort by 108.2% during the 3rd quarter. Barclays PLC now owns 33,508 shares of the company’s stock valued at $2,656,000 after purchasing an additional 17,413 shares in the last quarter. Franklin Resources Inc. raised its holdings in Monarch Casino & Resort by 7.3% in the third quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock worth $665,000 after buying an additional 597 shares during the last quarter. Heritage Family Offices LLP lifted its stake in shares of Monarch Casino & Resort by 7.0% in the fourth quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock worth $236,000 after buying an additional 196 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $254,000. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Stock Up 3.1 %

Shares of Monarch Casino & Resort stock opened at $76.03 on Wednesday. The company has a market cap of $1.40 billion, a P/E ratio of 15.36 and a beta of 1.57. The firm’s 50 day moving average price is $82.36 and its 200-day moving average price is $82.00. Monarch Casino & Resort, Inc. has a 52-week low of $64.58 and a 52-week high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.01. The firm had revenue of $125.39 million for the quarter, compared to the consensus estimate of $122.70 million. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. As a group, equities research analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MCRI has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Truist Financial raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their price target for the company from $82.00 to $100.00 in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company raised their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.20.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.