Morgan Dempsey Capital Management LLC Lowers Stock Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Morgan Dempsey Capital Management LLC reduced its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 12.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,975 shares of the company’s stock after selling 272 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Monarch Casino & Resort were worth $156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MCRI. Versor Investments LP purchased a new position in shares of Monarch Casino & Resort during the 3rd quarter valued at about $230,000. GSA Capital Partners LLP purchased a new position in shares of Monarch Casino & Resort during the 3rd quarter valued at about $309,000. Victory Capital Management Inc. lifted its position in shares of Monarch Casino & Resort by 58.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,462 shares of the company’s stock valued at $671,000 after buying an additional 3,138 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Monarch Casino & Resort during the 3rd quarter valued at about $1,868,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Monarch Casino & Resort by 141.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,736 shares of the company’s stock worth $613,000 after purchasing an additional 4,528 shares in the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on MCRI. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their price target for the stock from $82.00 to $100.00 in a report on Tuesday, January 14th. Jefferies Financial Group boosted their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company boosted their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a report on Wednesday, February 12th. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus boosted their price target on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Monarch Casino & Resort presently has a consensus rating of “Hold” and a consensus price target of $87.20.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI opened at $91.58 on Friday. Monarch Casino & Resort, Inc. has a 1 year low of $64.50 and a 1 year high of $96.11. The stock’s 50 day simple moving average is $84.66 and its two-hundred day simple moving average is $80.97. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 18.50 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same period in the prior year, the business posted $1.03 EPS. As a group, analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the transaction, the chief executive officer now owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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.