Centiva Capital LP Sells 3,711 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Centiva Capital LP decreased its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 41.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,313 shares of the company’s stock after selling 3,711 shares during the quarter. Centiva Capital LP’s holdings in Monarch Casino & Resort were worth $419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in Monarch Casino & Resort during the 4th quarter valued at about $53,000. KBC Group NV raised its holdings in shares of Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after acquiring an additional 396 shares in the last quarter. Independence Bank of Kentucky bought a new position in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $93,000. Nisa Investment Advisors LLC lifted its stake in Monarch Casino & Resort by 30.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after acquiring an additional 400 shares during the period. Finally, Bank of Montreal Can bought a new stake in Monarch Casino & Resort in the fourth quarter valued at $202,000. 62.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MCRI has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 12th. Macquarie restated a “neutral” rating and issued a $92.00 price objective on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Stifel Nicolaus reduced their target price on Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Truist Financial reduced their price target on Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $88.60.

Monarch Casino & Resort Price Performance

MCRI stock opened at $80.03 on Friday. Monarch Casino & Resort, Inc. has a 1-year low of $64.58 and a 1-year high of $96.11. The stock has a market capitalization of $1.48 billion, a P/E ratio of 16.17 and a beta of 1.59. The business has a fifty day moving average price of $78.96 and a 200-day moving average price of $82.24.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. The firm had revenue of $125.39 million for the quarter, compared to the consensus estimate of $122.70 million. As a group, analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort 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.