Monarch Casino & Resort, Inc. $MCRI Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 64,910 shares of the company’s stock after selling 5,759 shares during the period. Teacher Retirement System of Texas’ holdings in Monarch Casino & Resort were worth $6,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. increased its stake in shares of Monarch Casino & Resort by 5.5% during the second quarter. American Century Companies Inc. now owns 471,072 shares of the company’s stock worth $40,719,000 after acquiring an additional 24,472 shares during the period. Geode Capital Management LLC raised its position in shares of Monarch Casino & Resort by 20.0% in the second quarter. Geode Capital Management LLC now owns 391,868 shares of the company’s stock valued at $33,877,000 after buying an additional 65,272 shares during the last quarter. Tributary Capital Management LLC boosted its stake in Monarch Casino & Resort by 57.8% in the 3rd quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock worth $41,204,000 after buying an additional 142,621 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Monarch Casino & Resort by 10.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 108,791 shares of the company’s stock valued at $9,404,000 after buying an additional 10,553 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in Monarch Casino & Resort by 10.8% in the second quarter. Qube Research & Technologies Ltd now owns 106,463 shares of the company’s stock valued at $9,203,000 after buying an additional 10,363 shares during the period. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $100.63, for a total transaction of $100,630.00. Following the completion of the transaction, the chief executive officer owned 553,110 shares of the company’s stock, valued at approximately $55,659,459.30. This represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 25.52% of the company’s stock.

Wall Street Analysts Forecast Growth

MCRI has been the subject of several analyst reports. Wells Fargo & Company upped their target price on shares of Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $92.00 to $97.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Jefferies Financial Group reiterated a “hold” rating and set a $112.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $99.40.

Monarch Casino & Resort Trading Down 0.9%

Shares of Monarch Casino & Resort stock opened at $89.58 on Tuesday. Monarch Casino & Resort, Inc. has a 1 year low of $69.99 and a 1 year high of $113.88. The company’s fifty day simple moving average is $95.49 and its 200-day simple moving average is $97.97. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 16.17 and a beta of 1.36.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.