Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Bought by KBC Group NV

KBC Group NV raised its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 67.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 980 shares of the company’s stock after buying an additional 396 shares during the period. KBC Group NV’s holdings in Monarch Casino & Resort were worth $77,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Point Inc. increased its stake in shares of Monarch Casino & Resort by 1.5% during the third quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock worth $873,000 after purchasing an additional 162 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after purchasing an additional 178 shares during the last quarter. Heritage Family Offices LLP lifted its holdings in shares of Monarch Casino & Resort by 7.0% in the 4th quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock worth $236,000 after acquiring an additional 196 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Monarch Casino & Resort by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company’s stock worth $785,000 after acquiring an additional 250 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in Monarch Casino & Resort during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stifel Nicolaus increased 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 report on Thursday, October 24th. Jefferies Financial Group raised their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 4th. Wells Fargo & Company started coverage on shares of Monarch Casino & Resort in a report on Monday, December 16th. They set an “underweight” rating and a $79.00 target price for the company. Finally, Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and raised their target price for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.00.

Monarch Casino & Resort Price Performance

Shares of NASDAQ MCRI opened at $85.91 on Monday. The company has a market cap of $1.58 billion, a PE ratio of 19.01 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 12 month low of $64.50 and a 12 month high of $89.06. The company has a 50-day simple moving average of $82.61 and a 200-day simple moving average of $79.27.

Insider Buying and Selling

In related news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the sale, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 24.94% of the company’s stock.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.