Pitcairn Co. Has $427,000 Stock Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Pitcairn Co. grew its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 4.3% during the 1st quarter, Holdings Channel reports. The firm owned 5,698 shares of the company’s stock after purchasing an additional 235 shares during the quarter. Pitcairn Co.’s holdings in Monarch Casino & Resort were worth $427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UniSuper Management Pty Ltd bought a new position in shares of Monarch Casino & Resort in the first quarter valued at about $536,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Monarch Casino & Resort by 22.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,551 shares of the company’s stock valued at $1,153,000 after buying an additional 2,866 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Monarch Casino & Resort in the first quarter valued at about $204,000. US Bancorp DE raised its holdings in shares of Monarch Casino & Resort by 8.6% in the first quarter. US Bancorp DE now owns 6,124 shares of the company’s stock valued at $459,000 after buying an additional 483 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Monarch Casino & Resort by 68,100.0% in the first quarter. Russell Investments Group Ltd. now owns 10,230 shares of the company’s stock valued at $767,000 after buying an additional 10,215 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI traded up $7.74 on Thursday, hitting $76.52. 293,301 shares of the stock were exchanged, compared to its average volume of 125,155. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 18.09 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 52 week low of $56.25 and a 52 week high of $77.50. The company’s 50-day moving average price is $67.51 and its 200 day moving average price is $68.85.

Analysts Set New Price Targets

MCRI has been the subject of a number of research analyst reports. Truist Financial lifted their price target on Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a report on Thursday. Macquarie reissued a “neutral” rating and set a $76.00 price objective on shares of Monarch Casino & Resort in a report on Thursday.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $68.00, for a total transaction of $136,000.00. Following the completion of the sale, the chief executive officer now directly owns 525,310 shares of the company’s stock, valued at approximately $35,721,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 24.94% of the company’s stock.

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.