Pacer Advisors Inc. Purchases 753 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Pacer Advisors Inc. increased its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 27.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,513 shares of the company’s stock after buying an additional 753 shares during the quarter. Pacer Advisors Inc.’s holdings in Monarch Casino & Resort were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Monarch Casino & Resort by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company’s stock worth $79,193,000 after acquiring an additional 9,234 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Monarch Casino & Resort by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock worth $72,488,000 after purchasing an additional 72,764 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Monarch Casino & Resort during the fourth quarter worth $19,346,000. Renaissance Technologies LLC grew its stake in shares of Monarch Casino & Resort by 7.5% in the fourth quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock worth $10,888,000 after purchasing an additional 9,600 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Monarch Casino & Resort by 8.7% in the fourth quarter. Northern Trust Corp now owns 133,734 shares of the company’s stock worth $10,552,000 after purchasing an additional 10,697 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Analyst Ratings Changes

MCRI has been the subject of several analyst reports. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a “hold” rating in a research report on Thursday, July 17th. Wells Fargo & Company upgraded Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $83.00 to $89.00 in a research report on Thursday, July 17th. Truist Financial lifted their price objective on Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. Finally, Macquarie reissued a “neutral” rating and set a $92.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Monarch Casino & Resort currently has an average rating of “Hold” and an average target price of $93.20.

Monarch Casino & Resort Trading Down 1.4%

MCRI stock opened at $101.50 on Friday. The firm has a market cap of $1.85 billion, a PE ratio of 19.08 and a beta of 1.56. The stock has a 50-day moving average price of $90.30 and a 200-day moving average price of $85.24. Monarch Casino & Resort, Inc. has a 1-year low of $69.99 and a 1-year high of $113.88.

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

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $105.78, for a total value of $211,560.00. Following the completion of the sale, the chief executive officer directly owned 560,110 shares in the company, valued at approximately $59,248,435.80. This trade represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig F. Sullivan sold 12,200 shares of Monarch Casino & Resort stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $105.55, for a total transaction of $1,287,710.00. The disclosure for this sale can be found here. Company insiders own 25.52% of the company’s stock.

About Monarch Casino & Resort

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.