Rhumbline Advisers Grows Stock Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Rhumbline Advisers grew its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,525 shares of the company’s stock after purchasing an additional 322 shares during the period. Rhumbline Advisers owned approximately 0.16% of Monarch Casino & Resort worth $2,296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCRI. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Monarch Casino & Resort during the fourth quarter worth $169,000. Bank of Montreal Can purchased a new stake in Monarch Casino & Resort in the 4th quarter worth $202,000. Lazard Asset Management LLC increased its holdings in Monarch Casino & Resort by 33.4% in the 4th quarter. Lazard Asset Management LLC now owns 2,954 shares of the company’s stock worth $233,000 after acquiring an additional 740 shares in the last quarter. State of Wyoming increased its stake in Monarch Casino & Resort by 56.4% during the 4th quarter. State of Wyoming now owns 3,341 shares of the company’s stock worth $264,000 after buying an additional 1,205 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Monarch Casino & Resort during the fourth quarter worth approximately $265,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCRI has been the subject of several research reports. Truist Financial dropped their price objective on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus decreased their target price on Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. 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. Finally, Macquarie reaffirmed a “neutral” rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Monarch Casino & Resort presently has an average rating of “Hold” and an average target price of $88.60.

Monarch Casino & Resort Stock Up 0.6%

Shares of MCRI stock opened at $83.28 on Tuesday. The business has a fifty day simple moving average of $80.26 and a 200-day simple moving average of $82.46. Monarch Casino & Resort, Inc. has a fifty-two week low of $65.65 and a fifty-two week high of $96.11. The stock has a market cap of $1.54 billion, a P/E ratio of 16.82 and a beta of 1.54.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $125.39 million during 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%. On average, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort 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.