Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 9,017.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,693 shares of the company’s stock after buying an additional 50,137 shares during the period. GAMMA Investing LLC owned 0.27% of Monarch Casino & Resort worth $3,941,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MCRI. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Monarch Casino & Resort in the fourth quarter worth approximately $19,346,000. Raymond James Financial Inc. acquired a new position in Monarch Casino & Resort in the 4th quarter valued at $6,118,000. JPMorgan Chase & Co. lifted its holdings in Monarch Casino & Resort by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock valued at $72,488,000 after purchasing an additional 72,764 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Monarch Casino & Resort by 103.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,673 shares of the company’s stock worth $10,547,000 after purchasing an additional 67,973 shares during the last quarter. Finally, Orvieto Partners L.P. acquired a new stake in Monarch Casino & Resort during the 4th quarter worth $4,994,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Wells Fargo & Company increased their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a report on Wednesday, February 12th. Stifel Nicolaus decreased their target price on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Truist Financial lowered their target price on Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Macquarie restated a “neutral” rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $88.60.

Monarch Casino & Resort Trading Down 0.6%

Monarch Casino & Resort stock opened at $84.96 on Thursday. The company has a 50-day moving average price of $79.60 and a 200 day moving average price of $82.51. Monarch Casino & Resort, Inc. has a 12-month low of $65.65 and a 12-month high of $96.11. The stock has a market cap of $1.57 billion, a P/E ratio of 17.16 and a beta of 1.54.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. The business had revenue of $125.39 million during the quarter, compared to analysts’ expectations 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, analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

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.