Monarch Casino & Resort, Inc. $MCRI Stake Boosted by Westover Capital Advisors LLC

Westover Capital Advisors LLC boosted its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 60.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,040 shares of the company’s stock after purchasing an additional 4,537 shares during the quarter. Westover Capital Advisors LLC owned approximately 0.07% of Monarch Casino & Resort worth $1,385,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of Monarch Casino & Resort by 90.2% in the 3rd quarter. Signaturefd LLC now owns 1,478 shares of the company’s stock valued at $170,000 after buying an additional 701 shares during the period. Sterling Capital Management LLC grew its position in shares of Monarch Casino & Resort by 839.5% during the 3rd quarter. Sterling Capital Management LLC now owns 404 shares of the company’s stock valued at $46,000 after buying an additional 361 shares during the last quarter. Vest Financial LLC grew its position in shares of Monarch Casino & Resort by 108.5% during the 3rd quarter. Vest Financial LLC now owns 32,564 shares of the company’s stock valued at $3,745,000 after buying an additional 16,949 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Monarch Casino & Resort by 29.1% during the third quarter. Nisa Investment Advisors LLC now owns 4,246 shares of the company’s stock worth $488,000 after acquiring an additional 958 shares during the period. Finally, Annex Advisory Services LLC raised its stake in Monarch Casino & Resort by 10.4% during the third quarter. Annex Advisory Services LLC now owns 16,203 shares of the company’s stock worth $1,863,000 after acquiring an additional 1,521 shares during the period. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

Monarch Casino & Resort stock opened at $116.15 on Tuesday. Monarch Casino & Resort, Inc. has a one year low of $88.13 and a one year high of $135.93. The company has a 50-day simple moving average of $119.01 and a 200-day simple moving average of $112.07. The firm has a market capitalization of $2.08 billion, a P/E ratio of 18.61 and a beta of 1.37.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MCRI shares. Weiss Ratings reissued a “buy (b)” rating on shares of Monarch Casino & Resort in a report on Monday, August 24th. Zacks Research raised Monarch Casino & Resort from a “strong sell” rating to a “hold” rating in a report on Friday, September 18th. Stifel Nicolaus increased their price target on Monarch Casino & Resort from $102.00 to $128.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Truist Financial increased their price target on Monarch Casino & Resort from $125.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Texas Capital upgraded Monarch Casino & Resort to a “strong-buy” rating in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.40.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the transaction, the chief executive officer owned 611,556 shares in the company, valued at approximately $75,832,944. This represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 26.34% of the stock is owned by insiders.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc operates casino resorts in Nevada and Colorado. The company’s properties combine casino gaming with hotel accommodations, dining, entertainment and other hospitality services.

Its principal properties are Atlantis Casino Resort Spa in Reno, Nevada, and Monarch Casino Resort Spa in Black Hawk, Colorado. The resorts offer gaming facilities, restaurants and bars, hotel rooms and suites, spa services, meeting spaces and entertainment options. The company primarily serves regional visitors and destination guests in the western United States.

Monarch Casino & Resort traces its history to the opening of the Atlantis in Reno in 1972.