Envestnet Asset Management Inc. Lowers Stock Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Envestnet Asset Management Inc. trimmed its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,761 shares of the company’s stock after selling 842 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Monarch Casino & Resort were worth $2,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCRI. Meeder Asset Management Inc. acquired a new position in Monarch Casino & Resort in the 2nd quarter valued at about $53,000. Vest Financial LLC increased its holdings in shares of Monarch Casino & Resort by 38.6% in the second quarter. Vest Financial LLC now owns 16,107 shares of the company’s stock valued at $1,097,000 after purchasing an additional 4,482 shares during the period. American Century Companies Inc. raised its stake 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 purchasing an additional 46,323 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Monarch Casino & Resort by 16.6% during the second quarter. Victory Capital Management Inc. now owns 5,324 shares of the company’s stock worth $363,000 after purchasing an additional 758 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Monarch Casino & Resort by 81.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock worth $185,000 after purchasing an additional 1,221 shares during the period. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $77.96 on Friday. The business’s fifty day moving average price is $75.42 and its 200 day moving average price is $71.20. The firm has a market capitalization of $1.46 billion, a PE ratio of 18.43 and a beta of 1.73. Monarch Casino & Resort, Inc. has a 1-year low of $56.25 and a 1-year high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. The business had revenue of $128.14 million for the quarter, compared to analysts’ expectations of $126.03 million. Equities research analysts expect that Monarch Casino & Resort, Inc. will post 4.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Truist Financial upped their price objective on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Macquarie reiterated a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a research note on Thursday, July 25th.

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.