Monarch Casino & Resort, Inc. $MCRI Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,644 shares of the company’s stock after selling 280 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Monarch Casino & Resort were worth $315,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in Monarch Casino & Resort by 58.3% in the 1st quarter. SG Americas Securities LLC now owns 7,642 shares of the company’s stock valued at $594,000 after buying an additional 2,813 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Monarch Casino & Resort by 45.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 11,075 shares of the company’s stock worth $861,000 after purchasing an additional 3,467 shares during the period. Bessemer Group Inc. grew its holdings in shares of Monarch Casino & Resort by 1,700.8% during the 1st quarter. Bessemer Group Inc. now owns 2,125 shares of the company’s stock worth $165,000 after purchasing an additional 2,007 shares during the period. Golden State Wealth Management LLC grew its holdings in shares of Monarch Casino & Resort by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company’s stock worth $104,000 after purchasing an additional 666 shares during the period. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Monarch Casino & Resort by 3.9% during the 1st 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 period. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, Director Craig F. Sullivan sold 12,200 shares of Monarch Casino & Resort stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Tuesday, July 22nd. The shares were 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 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 disclosure for this sale can be found here. Company insiders own 25.52% of the company’s stock.

Analyst Ratings Changes

MCRI has been the topic of several research reports. Wells Fargo & Company raised Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $83.00 to $89.00 in a research note on Thursday, July 17th. Zacks Research lowered Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Monarch Casino & Resort in a research note on Tuesday, October 14th. 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, 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. Two 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 stock presently has an average rating of “Hold” and a consensus target price of $93.20.

Monarch Casino & Resort Stock Down 0.1%

NASDAQ:MCRI opened at $94.58 on Monday. The stock’s 50 day moving average price is $101.70 and its 200 day moving average price is $91.29. The company has a market capitalization of $1.73 billion, a PE ratio of 17.78 and a beta of 1.49. Monarch Casino & Resort, Inc. has a 52-week low of $69.99 and a 52-week high of $113.88.

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.