Gallacher Capital Management LLC Purchases 796 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Gallacher Capital Management LLC lifted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 14.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,320 shares of the company’s stock after buying an additional 796 shares during the period. Gallacher Capital Management LLC’s holdings in Monarch Casino & Resort were worth $499,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MCRI. Jane Street Group LLC lifted its position in Monarch Casino & Resort by 518.8% in the 3rd quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after acquiring an additional 98,153 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Monarch Casino & Resort during the fourth quarter valued at $6,118,000. Weiss Asset Management LP lifted its holdings in shares of Monarch Casino & Resort by 1,289.7% during the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock valued at $6,279,000 after purchasing an additional 73,512 shares in the last quarter. Verition Fund Management LLC bought a new position in Monarch Casino & Resort during the 3rd quarter valued at about $2,349,000. Finally, Segall Bryant & Hamill LLC bought a new position in Monarch Casino & Resort during the 3rd quarter valued at about $1,868,000. 62.37% of the stock is owned by institutional investors.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the sale, the chief executive officer now directly owns 528,436 shares in the company, valued at $41,059,477.20. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.94% of the company’s stock.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $85.01 on Friday. Monarch Casino & Resort, Inc. has a one year low of $64.50 and a one year high of $96.11. The stock’s fifty day moving average is $86.36 and its 200 day moving average is $81.84. The stock has a market cap of $1.57 billion, a P/E ratio of 17.17 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same period in the prior year, the company earned $1.03 EPS. Analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MCRI. Stifel Nicolaus increased their price objective on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Jefferies Financial Group increased their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday, January 3rd. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a report on Wednesday, February 12th. Finally, Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and increased their target price for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $87.20.

Monarch Casino & Resort Company 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.