Pitcairn Co. Reduces Stock Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Pitcairn Co. trimmed its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 8.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,571 shares of the company’s stock after selling 545 shares during the period. Pitcairn Co.’s holdings in Monarch Casino & Resort were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC lifted its stake in Monarch Casino & Resort by 376.1% during the second quarter. Millennium Management LLC now owns 85,869 shares of the company’s stock worth $5,850,000 after purchasing an additional 67,833 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Monarch Casino & Resort during the second quarter worth approximately $3,307,000. American Century Companies Inc. lifted its stake in Monarch Casino & Resort by 17.3% in the second quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after buying an additional 46,323 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of Monarch Casino & Resort during the first quarter worth approximately $2,822,000. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Monarch Casino & Resort in the 3rd quarter valued at $1,868,000. 62.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCRI. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus increased their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Finally, Truist Financial upped their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd.

Monarch Casino & Resort Stock Down 0.2 %

Shares of NASDAQ:MCRI opened at $85.69 on Wednesday. Monarch Casino & Resort, Inc. has a 52 week low of $62.03 and a 52 week high of $86.68. The company has a 50-day moving average price of $78.94 and a 200 day moving average price of $73.48. The company has a market cap of $1.58 billion, a P/E ratio of 18.88 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.10. The firm had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same period last year, the business posted $1.38 EPS. Analysts expect that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.