Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 34.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,979 shares of the company’s stock after selling 1,043 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Monarch Casino & Resort were worth $154,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. acquired a new position in Monarch Casino & Resort during the 4th quarter worth $19,346,000. Renaissance Technologies LLC grew its position in shares of Monarch Casino & Resort by 7.5% during the 4th quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock valued at $10,888,000 after buying an additional 9,600 shares during the last quarter. Northern Trust Corp grew its position in shares of Monarch Casino & Resort by 8.7% during the 4th quarter. Northern Trust Corp now owns 133,734 shares of the company’s stock valued at $10,552,000 after buying an additional 10,697 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Monarch Casino & Resort during the 4th quarter valued at about $6,118,000. Finally, Principal Financial Group Inc. grew its position in shares of Monarch Casino & Resort by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 68,861 shares of the company’s stock valued at $5,354,000 after buying an additional 1,695 shares during the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCRI. Truist Financial boosted their price objective on shares of Monarch Casino & Resort from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th. Wells Fargo & Company raised shares of Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $83.00 to $89.00 in a research report on Thursday, July 17th. Stifel Nicolaus boosted their price objective on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Finally, Macquarie reiterated a “neutral” rating and issued a $92.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Four research 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, the company presently has an average rating of “Hold” and an average price target of $93.20.

Monarch Casino & Resort Stock Down 0.4%

Monarch Casino & Resort stock opened at $96.80 on Monday. The firm has a 50-day moving average price of $91.86 and a two-hundred day moving average price of $85.80. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 18.20 and a beta of 1.56. 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 posted its earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.22. The firm had revenue of $136.91 million during the quarter, compared to analyst estimates of $129.76 million. Monarch Casino & Resort had a net margin of 18.70% and a return on equity of 18.99%. Research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Insider Activity

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

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.