AlphaQuest LLC Buys Shares of 8,729 Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

AlphaQuest LLC bought a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the fourth quarter, HoldingsChannel.com reports. The firm bought 8,729 shares of the company’s stock, valued at approximately $689,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC bought a new stake in shares of Monarch Casino & Resort during the third quarter worth about $258,000. Barclays PLC grew its holdings in shares of Monarch Casino & Resort by 108.2% during the third quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after purchasing an additional 17,413 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Monarch Casino & Resort by 3.9% during the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after purchasing an additional 8,283 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of Monarch Casino & Resort during the fourth quarter worth about $254,000. Finally, Versor Investments LP bought a new stake in shares of Monarch Casino & Resort during the third quarter worth about $230,000. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

Shares of MCRI opened at $84.93 on Wednesday. Monarch Casino & Resort, Inc. has a 52-week low of $64.50 and a 52-week high of $96.11. The business’s 50 day moving average price is $85.87 and its two-hundred day moving average price is $81.61. The firm has a market cap of $1.57 billion, a PE ratio of 17.16 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same period last year, the firm earned $1.03 EPS. Research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the transaction, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at $41,059,477.20. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 24.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a report on Wednesday, February 12th. Jefferies Financial Group boosted 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. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus lifted their price objective on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $87.20.

About Monarch Casino & Resort

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.