Meeder Asset Management Inc. Has $89,000 Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Meeder Asset Management Inc. increased its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 45.3% during the first quarter, Holdings Channel reports. The fund owned 1,139 shares of the company’s stock after acquiring an additional 355 shares during the quarter. Meeder Asset Management Inc.’s holdings in Monarch Casino & Resort were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Monarch Casino & Resort by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company’s stock worth $79,193,000 after acquiring an additional 9,234 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Monarch Casino & Resort by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock valued at $72,488,000 after acquiring an additional 72,764 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at about $19,346,000. Renaissance Technologies LLC boosted its position in shares of Monarch Casino & Resort by 7.5% in the fourth quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock valued at $10,888,000 after acquiring an additional 9,600 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Monarch Casino & Resort by 8.7% in the fourth quarter. Northern Trust Corp now owns 133,734 shares of the company’s stock valued at $10,552,000 after acquiring an additional 10,697 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Craig F. Sullivan sold 12,200 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $105.55, for a total value of $1,287,710.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Farahi sold 2,000 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $105.78, for a total value of $211,560.00. Following the completion of the sale, the chief executive officer directly owned 560,110 shares of the company’s stock, valued at approximately $59,248,435.80. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. 25.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Macquarie reissued a “neutral” rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Stifel Nicolaus upped their target price on Monarch Casino & Resort from $81.00 to $92.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Truist Financial upped their target price on Monarch Casino & Resort from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th. Finally, Wells Fargo & Company upgraded Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $83.00 to $89.00 in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $93.20.

Monarch Casino & Resort Stock Up 0.4%

NASDAQ:MCRI opened at $103.33 on Thursday. The stock’s 50-day simple moving average is $89.48 and its 200 day simple moving average is $84.95. The firm has a market capitalization of $1.91 billion, a PE ratio of 19.42 and a beta of 1.54. Monarch Casino & Resort, Inc. has a twelve month low of $69.99 and a twelve month high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.22 by $0.22. The firm had revenue of $136.91 million during the quarter, compared to the consensus estimate of $129.76 million. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%. On average, 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.