State of Alaska Department of Revenue Acquires 527 Shares of Monarch Casino & Resort, Inc. $MCRI

State of Alaska Department of Revenue grew its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,576 shares of the company’s stock after purchasing an additional 527 shares during the period. State of Alaska Department of Revenue’s holdings in Monarch Casino & Resort were worth $654,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MCRI. GAMMA Investing LLC boosted its holdings in shares of Monarch Casino & Resort by 28.7% during the 2nd quarter. GAMMA Investing LLC now owns 839 shares of the company’s stock valued at $73,000 after acquiring an additional 187 shares in the last quarter. Annex Advisory Services LLC boosted its holdings in shares of Monarch Casino & Resort by 4.5% during the 2nd quarter. Annex Advisory Services LLC now owns 23,772 shares of the company’s stock valued at $2,055,000 after acquiring an additional 1,025 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Monarch Casino & Resort during the 2nd quarter valued at $1,889,000. Parallel Advisors LLC boosted its holdings in shares of Monarch Casino & Resort by 51.2% during the 2nd quarter. Parallel Advisors LLC now owns 384 shares of the company’s stock valued at $33,000 after acquiring an additional 130 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Monarch Casino & Resort by 20.5% during the 1st quarter. Voya Investment Management LLC now owns 45,873 shares of the company’s stock valued at $3,567,000 after acquiring an additional 7,816 shares in the last quarter. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock opened at $99.11 on Wednesday. Monarch Casino & Resort, Inc. has a one year low of $69.99 and a one year high of $113.88. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 18.63 and a beta of 1.49. The business has a 50-day simple moving average of $102.39 and a 200 day simple moving average of $90.27.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.22. The business had revenue of $136.91 million during the quarter, compared to analyst estimates 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 expect that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Wall Street Analyst Weigh In

MCRI has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Saturday, September 27th. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $81.00 to $92.00 and gave the company a “hold” rating in a report on Thursday, July 17th. Zacks Research downgraded Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Wells Fargo & Company raised Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $83.00 to $89.00 in a report on Thursday, July 17th. Finally, Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $93.20.

Insider Buying and Selling

In other Monarch Casino & Resort news, Director Craig F. Sullivan sold 12,200 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $105.55, for a total transaction of $1,287,710.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Farahi sold 2,000 shares of the business’s stock in a transaction that occurred 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 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. Insiders own 25.52% of the company’s stock.

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.