Annex Advisory Services LLC Acquires 3,541 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Annex Advisory Services LLC raised its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,953 shares of the company’s stock after purchasing an additional 3,541 shares during the period. Annex Advisory Services LLC owned 0.09% of Monarch Casino & Resort worth $1,259,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MCRI. Janus Henderson Group PLC increased its position in Monarch Casino & Resort by 0.9% during the 3rd quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock valued at $30,809,000 after buying an additional 3,488 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Monarch Casino & Resort by 3.9% during the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock valued at $17,410,000 after acquiring an additional 8,283 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Monarch Casino & Resort by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock worth $11,949,000 after purchasing an additional 9,990 shares during the last quarter. FMR LLC boosted its stake in Monarch Casino & Resort by 1.1% in the 3rd quarter. FMR LLC now owns 134,098 shares of the company’s stock worth $10,630,000 after purchasing an additional 1,396 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Monarch Casino & Resort by 518.8% during the 3rd quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after purchasing an additional 98,153 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Analysts Set New Price Targets

MCRI has been the topic of several analyst reports. Jefferies Financial Group upped their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Wells Fargo & Company began coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price objective on the stock. StockNews.com raised Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 9th. Stifel Nicolaus upped their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Finally, Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $82.00 to $100.00 in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Monarch Casino & Resort has a consensus rating of “Hold” and an average target price of $84.00.

Monarch Casino & Resort Price Performance

Shares of MCRI opened at $84.05 on Tuesday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 18.60 and a beta of 1.73. Monarch Casino & Resort, Inc. has a one year low of $64.50 and a one year high of $89.06. The business has a fifty day moving average of $82.24 and a 200 day moving average of $77.64.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The business had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. During the same period in the previous year, the company posted $1.38 EPS. Analysts expect that Monarch Casino & Resort, Inc. will post 4.73 EPS for the current fiscal year.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the sale, the chief executive officer now owns 528,436 shares of the company’s stock, valued at $41,059,477.20. The trade was a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 24.94% of the stock is owned by corporate insiders.

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.