Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 32.4% in the fourth quarter, HoldingsChannel reports. The firm owned 10,242 shares of the company’s stock after acquiring an additional 2,506 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Monarch Casino & Resort were worth $808,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of Monarch Casino & Resort during the fourth quarter worth about $53,000. KBC Group NV lifted its holdings in shares of Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock worth $77,000 after purchasing an additional 396 shares during the period. Independence Bank of Kentucky acquired a new stake in shares of Monarch Casino & Resort during the fourth quarter worth about $93,000. Nisa Investment Advisors LLC lifted its holdings in shares of Monarch Casino & Resort by 30.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after purchasing an additional 400 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Monarch Casino & Resort by 49.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,760 shares of the company’s stock worth $218,000 after purchasing an additional 917 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock opened at $81.19 on Friday. The stock has a market capitalization of $1.50 billion, a PE ratio of 16.40 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 12 month low of $64.50 and a 12 month high of $96.11. The business has a 50 day simple moving average of $86.69 and a 200-day simple moving average of $82.02.

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

Insider Activity

In related news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was 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 directly owns 528,436 shares in the company, valued at approximately $41,059,477.20. The trade was a 0.19 % 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 the SEC website. Company insiders own 24.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.