Deutsche Bank AG Sells 1,091 Shares of Monarch Casino & Resort, Inc. $MCRI

Deutsche Bank AG lowered its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,069 shares of the company’s stock after selling 1,091 shares during the period. Deutsche Bank AG owned 0.05% of Monarch Casino & Resort worth $783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. TD Private Client Wealth LLC increased its position in Monarch Casino & Resort by 72.6% in the first quarter. TD Private Client Wealth LLC now owns 378 shares of the company’s stock worth $29,000 after purchasing an additional 159 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Monarch Casino & Resort by 3.9% in the first quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company’s stock worth $526,000 after purchasing an additional 254 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Monarch Casino & Resort by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,302 shares of the company’s stock worth $576,000 after purchasing an additional 273 shares during the last quarter. Heritage Family Offices LLP increased its position in Monarch Casino & Resort by 9.3% in the first quarter. Heritage Family Offices LLP now owns 3,271 shares of the company’s stock worth $254,000 after purchasing an additional 278 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Monarch Casino & Resort by 1.1% in the first quarter. Rhumbline Advisers now owns 29,525 shares of the company’s stock worth $2,296,000 after purchasing an additional 322 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MCRI. Truist Financial boosted their price target on shares of Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded 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 lifted their price objective for the stock from $83.00 to $89.00 in a research note on Thursday, July 17th. Finally, Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a “hold” rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Monarch Casino & Resort currently has a consensus rating of “Hold” and a consensus price target of $93.20.

Insiders Place Their Bets

In other news, CEO John Farahi sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 22nd. The shares were 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 of the company’s stock, 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 this link. Also, Director Craig F. Sullivan sold 12,200 shares of the business’s stock in a transaction on 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 insiders.

Monarch Casino & Resort Trading Down 0.9%

Shares of MCRI opened at $104.07 on Tuesday. The firm has a market capitalization of $1.90 billion, a P/E ratio of 19.56 and a beta of 1.56. Monarch Casino & Resort, Inc. has a 12-month low of $69.99 and a 12-month high of $113.88. The firm has a fifty day moving average price of $95.60 and a 200-day moving average price of $87.00.

Monarch Casino & Resort (NASDAQ:MCRI) last issued 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%. Analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share 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.