Wellington Management Group LLP Boosts Stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Wellington Management Group LLP lifted its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 3.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 219,625 shares of the company’s stock after acquiring an additional 8,283 shares during the quarter. Wellington Management Group LLP’s holdings in Monarch Casino & Resort were worth $17,410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in Monarch Casino & Resort by 0.9% during the third quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock worth $30,809,000 after acquiring an additional 3,488 shares during the period. American Century Companies Inc. increased its position in shares of Monarch Casino & Resort by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after purchasing an additional 46,323 shares during the last quarter. Tributary Capital Management LLC raised its stake in shares of Monarch Casino & Resort by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 276,426 shares of the company’s stock worth $18,833,000 after purchasing an additional 827 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $12,177,000 after buying an additional 1,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Monarch Casino & Resort by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock valued at $11,949,000 after buying an additional 9,990 shares during the period. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock opened at $87.24 on Friday. The business has a fifty day moving average price of $81.27 and a 200-day moving average price of $75.30. The firm has a market capitalization of $1.60 billion, a P/E ratio of 19.30 and a beta of 1.72. Monarch Casino & Resort, Inc. has a one year low of $64.50 and a one year high of $89.06.

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. The business had revenue of $137.87 million for the quarter, compared to analysts’ expectations of $134.50 million. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same period in the prior year, the company posted $1.38 EPS. Sell-side analysts expect that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Truist Financial lifted their price objective on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Finally, StockNews.com raised shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th.

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.