Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System increased its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.9% during the 4th quarter, HoldingsChannel reports. The firm owned 24,706 shares of the company’s stock after acquiring an additional 210 shares during the period. New York State Teachers Retirement System’s holdings in Monarch Casino & Resort were worth $1,949,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in Monarch Casino & Resort during the 3rd quarter valued at $30,000. Golden State Wealth Management LLC acquired a new position in shares of Monarch Casino & Resort in the 4th quarter worth $53,000. KBC Group NV grew its holdings in shares of Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company’s stock worth $77,000 after acquiring an additional 396 shares during the last quarter. Independence Bank of Kentucky acquired a new position in shares of Monarch Casino & Resort in the 4th quarter worth $93,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Monarch Casino & Resort by 30.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a report on Wednesday, February 12th. Jefferies Financial Group lifted their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday, January 3rd. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and lifted their price objective for the company from $82.00 to $100.00 in a research report on Tuesday, January 14th. Finally, Stifel Nicolaus boosted their price target on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.20.

Insiders Place Their Bets

In other news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the sale, the chief executive officer now directly owns 528,436 shares in the company, valued at $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 24.94% of the company’s stock.

Monarch Casino & Resort Price Performance

Shares of MCRI opened at $89.40 on Friday. The company has a market capitalization of $1.64 billion, a P/E ratio of 18.06 and a beta of 1.74. Monarch Casino & Resort, Inc. has a one year low of $64.50 and a one year high of $96.11. The business’s 50 day simple moving average is $83.60 and its 200-day simple moving average is $80.34.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same quarter in the prior year, the firm posted $1.03 EPS. On average, sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

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.