Price T Rowe Associates Inc. MD Increases Stock Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Price T Rowe Associates Inc. MD raised its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 28.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,075 shares of the company’s stock after acquiring an additional 7,933 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.20% of Monarch Casino & Resort worth $2,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its holdings in Monarch Casino & Resort by 108.2% during the 3rd quarter. Barclays PLC now owns 33,508 shares of the company’s stock valued at $2,656,000 after purchasing an additional 17,413 shares during the period. Franklin Resources Inc. increased its stake in shares of Monarch Casino & Resort by 7.3% during the third quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock valued at $665,000 after buying an additional 597 shares during the period. Heritage Family Offices LLP raised its holdings in shares of Monarch Casino & Resort by 7.0% during the fourth quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock valued at $236,000 after acquiring an additional 196 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in Monarch Casino & Resort in the fourth quarter worth $254,000. Finally, Annex Advisory Services LLC boosted its holdings in Monarch Casino & Resort by 28.5% in the fourth quarter. Annex Advisory Services LLC now owns 15,953 shares of the company’s stock valued at $1,259,000 after acquiring an additional 3,541 shares in the last quarter. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Stock Down 1.3 %

MCRI stock opened at $78.23 on Tuesday. The business has a 50 day moving average of $79.86 and a 200 day moving average of $82.14. The firm has a market cap of $1.44 billion, a PE ratio of 15.80 and a beta of 1.57. Monarch Casino & Resort, Inc. has a twelve month low of $64.58 and a twelve month high of $96.11.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MCRI shares. Macquarie reaffirmed a “neutral” rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Stifel Nicolaus cut their price objective on Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial decreased their target price on Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a research report on Wednesday, February 12th. Finally, StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Monarch Casino & Resort has a consensus rating of “Hold” and an average price target of $88.60.

About Monarch Casino & Resort

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.