Maryland State Retirement & Pension System Sells 592 Shares of Monarch Casino & Resort, Inc. $MCRI

Maryland State Retirement & Pension System lessened its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 13.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,707 shares of the company’s stock after selling 592 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Monarch Casino & Resort were worth $288,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. TD Private Client Wealth LLC lifted its holdings 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. Illinois Municipal Retirement Fund increased its position in shares of Monarch Casino & Resort by 3.9% during the first quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company’s stock valued at $526,000 after acquiring an additional 254 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Monarch Casino & Resort by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,302 shares of the company’s stock valued at $576,000 after acquiring an additional 273 shares during the last quarter. Heritage Family Offices LLP increased its position in shares of Monarch Casino & Resort by 9.3% during the first quarter. Heritage Family Offices LLP now owns 3,271 shares of the company’s stock valued at $254,000 after acquiring an additional 278 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Monarch Casino & Resort by 1.1% during the first quarter. Rhumbline Advisers now owns 29,525 shares of the company’s stock valued at $2,296,000 after acquiring an additional 322 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Monarch Casino & Resort news, Director Craig F. Sullivan sold 12,200 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $105.55, for a total value of $1,287,710.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The stock was 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 of the company’s stock, valued at $59,248,435.80. This represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 25.52% of the company’s stock.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI opened at $100.97 on Tuesday. The business has a fifty day simple moving average of $93.75 and a two-hundred day simple moving average of $86.41. Monarch Casino & Resort, Inc. has a 1 year low of $69.99 and a 1 year high of $113.88. The company has a market capitalization of $1.84 billion, a P/E ratio of 18.98 and a beta of 1.56.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $136.91 million during the quarter, compared to the consensus estimate of $129.76 million. As a group, analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current 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.