Nationwide Fund Advisors Decreases Stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Nationwide Fund Advisors cut its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 6.4% during the first quarter, Holdings Channel reports. The institutional investor owned 6,710 shares of the company’s stock after selling 459 shares during the period. Nationwide Fund Advisors’ holdings in Monarch Casino & Resort were worth $198,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank raised its position in Monarch Casino & Resort by 6.3% in the fourth quarter. Comerica Bank now owns 9,897 shares of the company’s stock valued at $248,000 after buying an additional 587 shares in the last quarter. Two Sigma Investments LP raised its position in Monarch Casino & Resort by 63.0% in the fourth quarter. Two Sigma Investments LP now owns 48,116 shares of the company’s stock valued at $1,240,000 after buying an additional 18,603 shares in the last quarter. Renaissance Technologies LLC raised its position in Monarch Casino & Resort by 36.6% in the fourth quarter. Renaissance Technologies LLC now owns 250,520 shares of the company’s stock valued at $6,458,000 after buying an additional 67,120 shares in the last quarter. Finally, State Street Corp raised its position in Monarch Casino & Resort by 10.4% in the fourth quarter. State Street Corp now owns 265,108 shares of the company’s stock valued at $6,838,000 after buying an additional 24,905 shares in the last quarter. 57.54% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort, Inc. (MCRI) opened at 30.45 on Monday. Monarch Casino & Resort, Inc. has a 12-month low of $20.94 and a 12-month high of $32.55. The company has a market capitalization of $533.00 million, a price-to-earnings ratio of 21.78 and a beta of 1.04. The firm has a 50-day moving average of $30.61 and a 200 day moving average of $27.75.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Tuesday, April 25th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $53.41 million during the quarter, compared to analysts’ expectations of $51.30 million. Monarch Casino & Resort had a net margin of 11.27% and a return on equity of 10.88%. Analysts expect that Monarch Casino & Resort, Inc. will post $1.46 EPS for the current fiscal year.

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Several research firms have commented on MCRI. Zacks Investment Research raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Wednesday, July 5th. Stifel Nicolaus raised their target price on shares of Monarch Casino & Resort from $27.00 to $29.00 and gave the company a “hold” rating in a report on Friday, April 28th. Imperial Capital raised their target price on shares of Monarch Casino & Resort from $27.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, April 13th. Finally, Deutsche Bank AG raised their target price on shares of Monarch Casino & Resort from $95.00 to $97.00 and gave the company a “buy” rating in a report on Monday, May 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $44.40.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

Want to see what other hedge funds are holding MCRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monarch Casino & Resort, Inc. (NASDAQ:MCRI).

Institutional Ownership by Quarter for Monarch Casino & Resort (NASDAQ:MCRI)

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