Trexquant Investment LP Invests $356,000 in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Trexquant Investment LP bought a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 4,512 shares of the company’s stock, valued at approximately $356,000.

A number of other hedge funds have also added to or reduced their stakes in MCRI. Raymond James Financial Inc. acquired a new position in shares of Monarch Casino & Resort during the 4th quarter valued at $6,118,000. JPMorgan Chase & Co. grew its stake in shares of Monarch Casino & Resort by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock valued at $72,488,000 after buying an additional 72,764 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Monarch Casino & Resort by 103.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,673 shares of the company’s stock valued at $10,547,000 after buying an additional 67,973 shares in the last quarter. Norges Bank acquired a new position in Monarch Casino & Resort during the 4th quarter worth approximately $3,653,000. Finally, American Century Companies Inc. grew its stake in Monarch Casino & Resort by 9.3% in the fourth quarter. American Century Companies Inc. now owns 404,073 shares of the company’s stock valued at $31,881,000 after acquiring an additional 34,384 shares during the period. 62.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MCRI shares. Jefferies Financial Group increased 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 shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their price target for the stock from $82.00 to $100.00 in a report on Tuesday, January 14th. Finally, Wells Fargo & Company increased their target price on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a 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 assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $87.20.

Monarch Casino & Resort Trading Up 0.7 %

Monarch Casino & Resort stock opened at $74.62 on Monday. The business’s 50 day simple moving average is $84.21 and its 200 day simple moving average is $82.18. Monarch Casino & Resort, Inc. has a 12 month low of $64.50 and a 12 month high of $96.11. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 15.07 and a beta of 1.57.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate 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 last year, the company posted $1.03 earnings per share. As a group, equities research analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal 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.