Victory Capital Management Inc. Purchases 4,091 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Victory Capital Management Inc. raised its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 53.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,752 shares of the company’s stock after acquiring an additional 4,091 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Monarch Casino & Resort worth $914,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its position in Monarch Casino & Resort by 72.6% in the 1st quarter. TD Private Client Wealth LLC now owns 378 shares of the company’s stock valued at $29,000 after purchasing an additional 159 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Monarch Casino & Resort by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company’s stock valued at $104,000 after buying an additional 666 shares in the last quarter. CWM LLC lifted its stake in shares of Monarch Casino & Resort by 264.7% in the first quarter. CWM LLC now owns 1,827 shares of the company’s stock valued at $142,000 after buying an additional 1,326 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Monarch Casino & Resort by 1,700.8% during the first quarter. Bessemer Group Inc. now owns 2,125 shares of the company’s stock valued at $165,000 after buying an additional 2,007 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Monarch Casino & Resort during the fourth quarter worth about $169,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Insider Buying and Selling at Monarch Casino & Resort

In related news, Director Craig F. Sullivan sold 12,200 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $105.55, for a total transaction of $1,287,710.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $105.78, for a total transaction of $211,560.00. Following the sale, the chief executive officer owned 560,110 shares of the company’s stock, valued at $59,248,435.80. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. 25.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MCRI shares. Stifel Nicolaus upped their target price on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. Macquarie reissued a “neutral” rating and issued a $92.00 price objective on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Wells Fargo & Company upgraded Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $83.00 to $89.00 in a report on Thursday, July 17th. Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th. Finally, Truist Financial increased their price target on Monarch Casino & Resort from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.20.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock opened at $102.96 on Friday. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 19.35 and a beta of 1.54. Monarch Casino & Resort, Inc. has a 52-week low of $69.99 and a 52-week high of $113.88. The company has a 50-day simple moving average of $89.90 and a two-hundred day simple moving average of $85.11.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.22. The firm had revenue of $136.91 million for the quarter, compared to the consensus estimate of $129.76 million. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%. On average, sell-side analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal 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.