Texas Permanent School Fund raised its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,052 shares of the company’s stock after buying an additional 84 shares during the period. Texas Permanent School Fund’s holdings in Monarch Casino & Resort were worth $244,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MCRI. Park West Asset Management LLC increased its stake in Monarch Casino & Resort by 101.2% in the first quarter. Park West Asset Management LLC now owns 905,248 shares of the company’s stock worth $26,741,000 after buying an additional 455,248 shares during the period. Lafitte Capital Management LP increased its stake in Monarch Casino & Resort by 14.4% in the first quarter. Lafitte Capital Management LP now owns 793,008 shares of the company’s stock worth $23,425,000 after buying an additional 99,839 shares during the period. Wellington Management Group LLP increased its stake in Monarch Casino & Resort by 3.0% in the first quarter. Wellington Management Group LLP now owns 726,961 shares of the company’s stock worth $21,474,000 after buying an additional 21,394 shares during the period. Vanguard Group Inc. increased its stake in Monarch Casino & Resort by 10.4% in the first quarter. Vanguard Group Inc. now owns 580,692 shares of the company’s stock worth $17,153,000 after buying an additional 54,762 shares during the period. Finally, Uniplan Investment Counsel Inc. increased its stake in Monarch Casino & Resort by 2.2% in the first quarter. Uniplan Investment Counsel Inc. now owns 227,409 shares of the company’s stock worth $6,717,000 after buying an additional 4,842 shares during the period. Hedge funds and other institutional investors own 58.43% of the company’s stock.

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) opened at 35.04 on Wednesday. The stock has a market capitalization of $615.58 million, a P/E ratio of 23.72 and a beta of 1.06. Monarch Casino & Resort, Inc. has a 52-week low of $21.13 and a 52-week high of $35.40. The firm’s 50-day moving average price is $32.60 and its 200-day moving average price is $29.88.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Tuesday, July 25th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Monarch Casino & Resort had a net margin of 11.77% and a return on equity of 11.16%. The firm had revenue of $58.23 million during the quarter, compared to analyst estimates of $58 million. Equities analysts forecast that Monarch Casino & Resort, Inc. will post $1.51 earnings per share for the current fiscal year.

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A number of analysts recently weighed in on MCRI shares. BidaskClub downgraded Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Imperial Capital lifted their price target on Monarch Casino & Resort from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $33.00 price target on shares of Monarch Casino & Resort in a research note on Friday, July 28th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $46.60.

In other news, President Bob Farahi sold 34,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $34.43, for a total value of $1,170,620.00. Following the completion of the transaction, the president now owns 482,516 shares of the company’s stock, valued at approximately $16,613,025.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 27.56% of the stock is owned by insiders.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

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Institutional Ownership by Quarter for Monarch Casino & Resort (NASDAQ:MCRI)

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