Monarch Casino & Resort, Inc. $MCRI Shares Sold by Northern Trust Corp

Northern Trust Corp lessened its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 133,352 shares of the company’s stock after selling 382 shares during the quarter. Northern Trust Corp’s holdings in Monarch Casino & Resort were worth $10,368,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MCRI. BNP Paribas Financial Markets boosted its position in Monarch Casino & Resort by 304.7% during the 4th quarter. BNP Paribas Financial Markets now owns 30,131 shares of the company’s stock worth $2,377,000 after acquiring an additional 22,685 shares during the period. Bank of America Corp DE lifted its holdings in shares of Monarch Casino & Resort by 54.7% in 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 lifted its holdings in shares of Monarch Casino & Resort by 184.2% in 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. Deutsche Bank AG lifted its holdings in shares of Monarch Casino & Resort by 45.3% in 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. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Monarch Casino & Resort by 149.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 9,087 shares of the company’s stock valued at $717,000 after buying an additional 5,442 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus upped 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. Wells Fargo & Company upgraded Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $83.00 to $89.00 in a report on Thursday, July 17th. Truist Financial upped 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, Wall Street Zen upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $93.20.

Monarch Casino & Resort Stock Down 1.8%

Shares of NASDAQ MCRI opened at $101.88 on Friday. Monarch Casino & Resort, Inc. has a 12 month low of $69.99 and a 12 month high of $113.88. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 19.15 and a beta of 1.49. The business has a fifty day simple moving average of $98.93 and a 200-day simple moving average of $87.84.

Monarch Casino & Resort (NASDAQ:MCRI) last announced 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. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%.The business had revenue of $136.91 million during the quarter, compared to the consensus estimate of $129.76 million. As a group, sell-side analysts expect that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Insider Buying and Selling at Monarch Casino & Resort

In related 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 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. This represents a 0.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Corporate insiders own 25.52% of the company’s stock.

Monarch Casino & Resort 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.