Eagle Asset Management Inc. lifted its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,135 shares of the company’s stock after purchasing an additional 3,872 shares during the quarter. Eagle Asset Management Inc. owned about 0.73% of Monarch Casino & Resort worth $5,914,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Cutler Group LP boosted its position in shares of Monarch Casino & Resort by 609.8% in the 2nd quarter. Cutler Group LP now owns 2,549 shares of the company’s stock worth $112,000 after purchasing an additional 3,049 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Monarch Casino & Resort in the 2nd quarter worth $117,000. SG Americas Securities LLC acquired a new stake in shares of Monarch Casino & Resort in the 2nd quarter worth $182,000. TD Asset Management Inc. acquired a new stake in shares of Monarch Casino & Resort in the 2nd quarter worth $203,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Monarch Casino & Resort in the 2nd quarter worth $206,000. 59.09% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on MCRI. BidaskClub raised Monarch Casino & Resort from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 3rd. ValuEngine cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Finally, Zacks Investment Research cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Monarch Casino & Resort presently has an average rating of “Hold” and an average target price of $50.00.
Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, October 24th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The firm had revenue of $64.36 million during the quarter, compared to analysts’ expectations of $65.15 million. Monarch Casino & Resort had a return on equity of 11.79% and a net margin of 13.20%. As a group, equities research analysts expect that Monarch Casino & Resort, Inc. will post 1.86 EPS for the current fiscal year.
In other news, President Bob Farahi bought 8,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Friday, September 7th. The stock was bought at an average price of $44.84 per share, for a total transaction of $358,720.00. Following the purchase, the president now directly owns 419,408 shares of the company’s stock, valued at approximately $18,806,254.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 26.24% of the company’s stock.
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Monarch Casino & Resort Company Profile
Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of March 5, 2018, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.
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