Victory Capital Management Inc. lifted its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 17.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,166 shares of the company’s stock after buying an additional 631 shares during the quarter. Victory Capital Management Inc.’s holdings in Monarch Casino & Resort were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of MCRI. JustInvest LLC purchased a new stake in shares of Monarch Casino & Resort during the first quarter worth about $599,000. Comerica Bank grew its position in shares of Monarch Casino & Resort by 933.1% during the first quarter. Comerica Bank now owns 120,124 shares of the company’s stock worth $8,031,000 after purchasing an additional 108,496 shares in the last quarter. BlackRock Inc. grew its position in shares of Monarch Casino & Resort by 3.8% during the fourth quarter. BlackRock Inc. now owns 1,955,575 shares of the company’s stock worth $119,721,000 after purchasing an additional 70,997 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Monarch Casino & Resort by 26.2% during the fourth quarter. William Blair Investment Management LLC now owns 221,695 shares of the company’s stock worth $13,572,000 after purchasing an additional 46,068 shares in the last quarter. Finally, Monarch Partners Asset Management LLC purchased a new stake in shares of Monarch Casino & Resort during the fourth quarter worth about $1,739,000. 64.99% of the stock is currently owned by hedge funds and other institutional investors.
In other news, COO David-Jacques Farahi sold 29,700 shares of Monarch Casino & Resort stock in a transaction on Monday, May 17th. The stock was sold at an average price of $70.93, for a total value of $2,106,621.00. Following the transaction, the chief operating officer now directly owns 92,116 shares in the company, valued at approximately $6,533,787.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 25.27% of the company’s stock.
Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, April 27th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Monarch Casino & Resort had a return on equity of 8.27% and a net margin of 14.31%. The business had revenue of $74.96 million for the quarter, compared to the consensus estimate of $62.50 million. On average, equities research analysts anticipate that Monarch Casino & Resort, Inc. will post 2.63 earnings per share for the current year.
Several analysts recently issued reports on MCRI shares. Truist increased their target price on Monarch Casino & Resort from $70.00 to $77.00 in a research report on Tuesday, April 27th. Zacks Investment Research upgraded Monarch Casino & Resort from a “sell” rating to a “hold” rating and set a $77.00 price target for the company in a report on Wednesday, April 28th. Finally, TheStreet upgraded Monarch Casino & Resort from a “c+” rating to a “b” rating in a report on Wednesday, May 19th.
About Monarch Casino & Resort
Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. As of February 24, 2021, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 818 guest rooms and suites; 8 food outlets; 2 gourmet coffee and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.
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