Raymond James Financial Inc. Invests $6.12 Million in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Raymond James Financial Inc. purchased a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 77,540 shares of the company’s stock, valued at approximately $6,118,000.

A number of other large investors have also recently bought and sold shares of the business. DAVENPORT & Co LLC increased its stake in Monarch Casino & Resort by 1.6% in the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company’s stock valued at $98,696,000 after purchasing an additional 19,845 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Monarch Casino & Resort by 0.9% during the third quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock worth $30,809,000 after buying an additional 3,488 shares during the last quarter. Wellington Management Group LLP increased its position in Monarch Casino & Resort by 3.9% in the 3rd 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 during the period. FMR LLC raised its stake in Monarch Casino & Resort by 1.1% during the 3rd quarter. FMR LLC now owns 134,098 shares of the company’s stock valued at $10,630,000 after acquiring an additional 1,396 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Monarch Casino & Resort by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 118,512 shares of the company’s stock worth $9,351,000 after acquiring an additional 5,674 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

Analyst Ratings Changes

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

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 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 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 Securities & Exchange Commission, which is available through this hyperlink. 24.94% of the stock is currently owned by corporate insiders.

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI opened at $81.14 on Tuesday. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.39 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 1 year low of $64.50 and a 1 year high of $96.11. The stock has a fifty day moving average price of $86.74 and a two-hundred day moving average price of $82.16.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly 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 period in the prior year, the firm posted $1.03 earnings per share. On average, analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Company 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.