Swiss National Bank Decreases Stock Holdings in Monarch Casino & Resort, Inc. $MCRI

Swiss National Bank trimmed its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 2.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,711 shares of the company’s stock after selling 600 shares during the quarter. Swiss National Bank owned 0.14% of Monarch Casino & Resort worth $2,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. 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. GHP Investment Advisors Inc. increased its position in shares of Monarch Casino & Resort by 45.6% during the first quarter. GHP Investment Advisors Inc. now owns 11,075 shares of the company’s stock valued at $861,000 after acquiring an additional 3,467 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Monarch Casino & Resort by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company’s stock valued at $104,000 after acquiring an additional 666 shares during the last quarter. Deutsche Bank AG increased its position in shares of Monarch Casino & Resort by 45.3% during the fourth quarter. Deutsche Bank AG now owns 11,160 shares of the company’s stock valued at $881,000 after acquiring an additional 3,477 shares during the last quarter. Finally, Natixis Advisors LLC purchased a new stake in shares of Monarch Casino & Resort during the first quarter valued at approximately $803,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCRI has been the subject of a number of recent research 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 raised Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $83.00 to $89.00 in a research report on Thursday, July 17th. Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th. Finally, Truist Financial raised their target price on Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $93.20.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort 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 transaction, the chief executive officer directly owned 560,110 shares in the company, valued at approximately $59,248,435.80. The trade was a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $1,287,710.00. The disclosure for this sale can be found here. 25.52% of the stock is currently owned by insiders.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ MCRI opened at $104.99 on Friday. The stock has a market cap of $1.92 billion, a PE ratio of 19.73 and a beta of 1.56. Monarch Casino & Resort, Inc. has a fifty-two week low of $69.99 and a fifty-two week high of $113.88. The stock has a fifty day moving average of $95.19 and a 200-day moving average of $86.87.

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