Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. boosted its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,018 shares of the company’s stock after acquiring an additional 695 shares during the period. Jupiter Asset Management Ltd. owned about 0.15% of Monarch Casino & Resort worth $2,101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC raised its stake 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 last quarter. Vestcor Inc acquired a new position in Monarch Casino & Resort in the 1st quarter valued at about $58,000. Meeder Asset Management Inc. raised its stake in Monarch Casino & Resort by 45.3% in the 1st quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company’s stock valued at $89,000 after purchasing an additional 355 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Monarch Casino & Resort by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company’s stock valued at $104,000 after purchasing an additional 666 shares during the last quarter. Finally, CWM LLC raised its stake in Monarch Casino & Resort by 264.7% in the 1st quarter. CWM LLC now owns 1,827 shares of the company’s stock valued at $142,000 after purchasing an additional 1,326 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Insiders Place Their Bets

In other news, CEO John Farahi sold 2,000 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $105.78, for a total transaction of $211,560.00. Following the completion of the sale, the chief executive officer directly owned 560,110 shares in the company, valued at $59,248,435.80. This represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Craig F. Sullivan sold 12,200 shares of the stock in a transaction on Tuesday, July 22nd. The stock was 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. Corporate insiders own 25.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

Monarch Casino & Resort Stock Down 1.4%

MCRI stock opened at $101.50 on Monday. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 19.08 and a beta of 1.56. The business has a fifty day simple moving average of $90.30 and a 200-day simple moving average of $85.27. Monarch Casino & Resort, Inc. has a 52 week low of $69.99 and a 52 week high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.22. The business had revenue of $136.91 million during 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%. As a group, analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

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.