Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC decreased its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,555 shares of the company’s stock after selling 2,880 shares during the quarter. Cambiar Investors LLC’s holdings in Monarch Casino & Resort were worth $2,647,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MCRI. GAMMA Investing LLC grew its position in shares of Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after acquiring an additional 178 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Monarch Casino & Resort by 96.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 9,698 shares of the company’s stock worth $769,000 after purchasing an additional 4,762 shares during the last quarter. Heritage Family Offices LLP bought a new stake in shares of Monarch Casino & Resort in the 3rd quarter worth approximately $222,000. Trust Point Inc. lifted its holdings in shares of Monarch Casino & Resort by 1.5% in the 3rd quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock worth $873,000 after purchasing an additional 162 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new stake in shares of Monarch Casino & Resort in the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the sale, the chief executive officer now owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 24.94% of the stock is owned by company insiders.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock opened at $85.41 on Tuesday. The business’s fifty day moving average price is $82.61 and its two-hundred day moving average price is $79.34. The company has a market capitalization of $1.57 billion, a P/E ratio of 18.90 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 1-year low of $64.50 and a 1-year high of $89.06.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Wells Fargo & Company assumed coverage on Monarch Casino & Resort in a report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target on the stock. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and raised their price target for the stock from $82.00 to $100.00 in a report on Tuesday, January 14th. Jefferies Financial Group raised their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Finally, StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.00.

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.