MML Investors Services LLC Sells 1,231 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

MML Investors Services LLC reduced its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 25.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,551 shares of the company’s stock after selling 1,231 shares during the quarter. MML Investors Services LLC’s holdings in Monarch Casino & Resort were worth $281,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new stake in Monarch Casino & Resort in the 3rd quarter valued at about $30,000. GAMMA Investing LLC lifted its position in shares of Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after buying an additional 178 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Monarch Casino & Resort during the 2nd quarter worth approximately $53,000. Canada Pension Plan Investment Board acquired a new position in shares of Monarch Casino & Resort during the 2nd quarter worth approximately $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Monarch Casino & Resort by 81.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after acquiring an additional 1,221 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

Analysts Set New Price Targets

MCRI has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on shares of Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price objective for the company. Truist Financial upped their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus raised their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Finally, StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $78.50.

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI opened at $78.15 on Thursday. Monarch Casino & Resort, Inc. has a 52 week low of $64.50 and a 52 week high of $89.06. The firm’s 50-day simple moving average is $81.79 and its 200 day simple moving average is $76.01. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 17.29 and a beta of 1.72.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.37 by $0.10. The company 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 last year, the firm earned $1.38 earnings per share. Sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

Monarch Casino & Resort Company 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.