Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Pitcairn Co.

Pitcairn Co. lessened its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,571 shares of the company’s stock after selling 545 shares during the quarter. Pitcairn Co.’s holdings in Monarch Casino & Resort were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in shares of Monarch Casino & Resort by 17.3% during the second quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after buying an additional 46,323 shares in the last quarter. Tributary Capital Management LLC grew its stake in Monarch Casino & Resort by 0.3% in the 2nd quarter. Tributary Capital Management LLC now owns 276,426 shares of the company’s stock worth $18,833,000 after acquiring an additional 827 shares during the period. Bank of New York Mellon Corp raised its holdings in Monarch Casino & Resort by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company’s stock valued at $12,177,000 after acquiring an additional 1,400 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Monarch Casino & Resort by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock worth $11,949,000 after purchasing an additional 9,990 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Monarch Casino & Resort by 11.7% during the second quarter. Renaissance Technologies LLC now owns 110,100 shares of the company’s stock worth $7,501,000 after purchasing an additional 11,500 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus upped their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Finally, Truist Financial raised their target price on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd.

Monarch Casino & Resort Stock Down 0.2 %

MCRI stock opened at $85.69 on Wednesday. Monarch Casino & Resort, Inc. has a 52 week low of $62.03 and a 52 week high of $86.68. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 18.88 and a beta of 1.73. The business has a fifty day simple moving average of $78.94 and a 200-day simple moving average of $73.48.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The company had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. During the same period last year, the business posted $1.38 EPS. As a group, analysts expect that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Monarch Casino & Resort Profile

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.