Ieq Capital LLC Invests $366,000 in Monarch Casino & Resort, Inc. $MCRI

Ieq Capital LLC bought a new position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,702 shares of the company’s stock, valued at approximately $366,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MCRI. Northern Trust Corp raised its position in shares of Monarch Casino & Resort by 8.7% during the fourth quarter. Northern Trust Corp now owns 133,734 shares of the company’s stock worth $10,552,000 after purchasing an additional 10,697 shares during the period. BNP Paribas Financial Markets raised its position in Monarch Casino & Resort by 304.7% during the fourth quarter. BNP Paribas Financial Markets now owns 30,131 shares of the company’s stock valued at $2,377,000 after buying an additional 22,685 shares during the period. Bank of America Corp DE raised its position in Monarch Casino & Resort by 54.7% during the fourth quarter. Bank of America Corp DE now owns 45,660 shares of the company’s stock valued at $3,603,000 after buying an additional 16,154 shares during the period. Cubist Systematic Strategies LLC raised its position in Monarch Casino & Resort by 184.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 55,910 shares of the company’s stock valued at $4,411,000 after buying an additional 36,237 shares during the period. Finally, Deutsche Bank AG raised its position in Monarch Casino & Resort by 45.3% during the fourth quarter. Deutsche Bank AG now owns 11,160 shares of the company’s stock valued at $881,000 after buying an additional 3,477 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Price Performance

Shares of NASDAQ MCRI opened at $101.88 on Friday. The business’s 50-day moving average price is $98.93 and its two-hundred day moving average price is $87.84. Monarch Casino & Resort, Inc. has a one year low of $69.99 and a one year high of $113.88. The company has a market capitalization of $1.86 billion, a P/E ratio of 19.15 and a beta of 1.49.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.22. The company 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, equities analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Wall Street Analyst Weigh In

MCRI has been the topic of several recent analyst reports. Stifel Nicolaus upped their price target 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. Wells Fargo & Company raised Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $83.00 to $89.00 in a research report on Thursday, July 17th. Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th. Finally, Truist Financial upped their price target 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. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $93.20.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 2,000 shares of the stock in a transaction dated 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 approximately $59,248,435.80. This represents a 0.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Craig F. Sullivan sold 12,200 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were 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. Corporate insiders own 25.52% of the company’s stock.

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.