Nisa Investment Advisors LLC Sells 1,021 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Nisa Investment Advisors LLC cut its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 44.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,293 shares of the company’s stock after selling 1,021 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Monarch Casino & Resort were worth $102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in Monarch Casino & Resort by 11.9% in the first quarter. BNP Paribas Financial Markets now owns 14,818 shares of the company’s stock valued at $1,111,000 after purchasing an additional 1,581 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Monarch Casino & Resort by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 11,682 shares of the company’s stock valued at $876,000 after purchasing an additional 152 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Monarch Casino & Resort in the 1st quarter valued at approximately $570,000. Choate Investment Advisors purchased a new stake in shares of Monarch Casino & Resort in the 1st quarter worth about $225,000. Finally, Russell Investments Group Ltd. increased its position in Monarch Casino & Resort by 68,100.0% during the 1st quarter. Russell Investments Group Ltd. now owns 10,230 shares of the company’s stock valued at $767,000 after buying an additional 10,215 shares in the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCRI. Truist Financial upped their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Macquarie reiterated a “neutral” rating and issued a $76.00 price target on shares of Monarch Casino & Resort in a research note on Thursday, July 25th. Finally, Stifel Nicolaus boosted their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th.

Monarch Casino & Resort Trading Down 0.0 %

Shares of NASDAQ MCRI opened at $82.36 on Friday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 18.22 and a beta of 1.73. Monarch Casino & Resort, Inc. has a 12-month low of $61.96 and a 12-month high of $83.91. The firm’s 50-day moving average price is $76.93 and its 200-day moving average price is $72.16.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.10. The business had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same quarter in the previous year, the business earned $1.38 earnings per share. On average, equities analysts predict that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current fiscal year.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.