Norges Bank Acquires New Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Norges Bank bought a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 46,300 shares of the company’s stock, valued at approximately $3,653,000.

Other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC acquired a new stake in shares of Monarch Casino & Resort in the third quarter valued at $258,000. Barclays PLC lifted its position in shares of Monarch Casino & Resort by 108.2% during the third quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after purchasing an additional 17,413 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Monarch Casino & Resort during the 4th quarter worth approximately $1,516,000. Wellington Management Group LLP grew its stake in shares of Monarch Casino & Resort by 3.9% in the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after acquiring an additional 8,283 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in shares of Monarch Casino & Resort during the fourth quarter worth $254,000. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Monarch Casino & Resort Stock Down 4.1 %

Shares of Monarch Casino & Resort stock opened at $74.10 on Friday. The firm has a market capitalization of $1.37 billion, a P/E ratio of 14.97 and a beta of 1.57. Monarch Casino & Resort, Inc. has a 52 week low of $64.50 and a 52 week high of $96.11. The firm’s 50 day moving average is $84.43 and its two-hundred day moving average is $82.17.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results 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 net margin of 18.01% and a return on equity of 18.27%. During the same period in the prior year, the business posted $1.03 EPS. As a group, research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MCRI has been the subject of a number of recent research reports. Jefferies Financial Group lifted 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. Stifel Nicolaus lifted their price objective on Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and lifted their price target for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company increased their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.20.

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.