US Bancorp DE Buys 1,980 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

US Bancorp DE grew its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 33.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,835 shares of the company’s stock after buying an additional 1,980 shares during the period. US Bancorp DE’s holdings in Monarch Casino & Resort were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC boosted its holdings in Monarch Casino & Resort by 72.6% during the first quarter. TD Private Client Wealth LLC now owns 378 shares of the company’s stock worth $29,000 after buying an additional 159 shares during the last quarter. Vestcor Inc bought a new position in Monarch Casino & Resort during the first quarter worth about $58,000. Meeder Asset Management Inc. boosted its holdings in Monarch Casino & Resort by 45.3% during the first quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company’s stock worth $89,000 after buying an additional 355 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Monarch Casino & Resort by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company’s stock worth $104,000 after buying an additional 666 shares during the last quarter. Finally, CWM LLC boosted its holdings in Monarch Casino & Resort by 264.7% during the first quarter. CWM LLC now owns 1,827 shares of the company’s stock worth $142,000 after buying an additional 1,326 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Monarch Casino & Resort

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

Monarch Casino & Resort Price Performance

NASDAQ:MCRI opened at $96.63 on Tuesday. The business’s 50-day simple moving average is $92.12 and its 200-day simple moving average is $85.89. Monarch Casino & Resort, Inc. has a fifty-two week low of $69.99 and a fifty-two week high of $113.88. The stock has a market capitalization of $1.77 billion, a PE ratio of 18.16 and a beta of 1.56.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.22. The business had revenue of $136.91 million for the quarter, compared to analyst estimates of $129.76 million. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%. On average, research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share 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.