US Bancorp DE Acquires 1,980 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

US Bancorp DE grew its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 33.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,835 shares of the company’s stock after acquiring an additional 1,980 shares during the quarter. US Bancorp DE’s holdings in Monarch Casino & Resort were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. TD Private Client Wealth LLC raised its stake in shares of Monarch Casino & Resort by 72.6% in the first 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 in the last quarter. Vestcor Inc acquired a new position in shares of Monarch Casino & Resort in the first quarter valued at $58,000. Meeder Asset Management Inc. raised its stake in shares of Monarch Casino & Resort by 45.3% in the first 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 in the last quarter. Golden State Wealth Management LLC raised 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 purchasing an additional 666 shares in the last quarter. Finally, CWM LLC raised 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 purchasing an additional 1,326 shares in the last quarter. 62.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, 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 value of $211,560.00. Following the transaction, the chief executive officer owned 560,110 shares in the company, valued at $59,248,435.80. This trade represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $1,287,710.00. The disclosure for this sale can be found here. Company insiders own 25.52% of the company’s stock.

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock opened at $96.63 on Tuesday. The stock has a fifty day moving average price of $92.12 and a two-hundred day moving average price of $85.89. Monarch Casino & Resort, Inc. has a 52-week low of $69.99 and a 52-week high of $113.88. The firm has a market capitalization of $1.77 billion, a P/E ratio of 18.16 and a beta of 1.56.

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, beating analysts’ consensus estimates 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 company had revenue of $136.91 million during the quarter, compared to analyst estimates of $129.76 million. On average, equities research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Company 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.