Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Sold by Royce & Associates LP

Royce & Associates LP cut its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 20.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,770 shares of the company’s stock after selling 4,767 shares during the quarter. Royce & Associates LP’s holdings in Monarch Casino & Resort were worth $1,488,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. UniSuper Management Pty Ltd purchased a new position in shares of Monarch Casino & Resort in the first quarter valued at approximately $536,000. Manning & Napier Advisors LLC acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth $3,307,000. Westwood Holdings Group Inc. acquired a new stake in shares of Monarch Casino & Resort in the first quarter valued at about $2,822,000. SG Americas Securities LLC acquired a new stake in shares of Monarch Casino & Resort in the second quarter valued at about $751,000. Finally, US Bancorp DE boosted its position in Monarch Casino & Resort by 8.6% during the first quarter. US Bancorp DE now owns 6,124 shares of the company’s stock worth $459,000 after acquiring an additional 483 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on MCRI shares. Macquarie reiterated a “neutral” rating and issued a $76.00 price objective on shares of Monarch Casino & Resort in a report on Thursday, July 25th. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus upped their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Finally, Truist Financial lifted their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd.

Monarch Casino & Resort Price Performance

Shares of NASDAQ MCRI opened at $82.87 on Wednesday. The company has a market capitalization of $1.52 billion, a P/E ratio of 18.33 and a beta of 1.73. The company has a 50 day simple moving average of $78.18 and a 200-day simple moving average of $73.04. Monarch Casino & Resort, Inc. has a 1 year low of $62.03 and a 1 year high of $84.43.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $134.50 million. During the same quarter last year, the firm earned $1.38 earnings per share. As a group, research analysts expect that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current 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.