Eagle Asset Management Inc. Sells 23,452 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Eagle Asset Management Inc. cut its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 24.0% during the third quarter, Holdings Channel reports. The institutional investor owned 74,269 shares of the company’s stock after selling 23,452 shares during the quarter. Eagle Asset Management Inc.’s holdings in Monarch Casino & Resort were worth $6,152,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Intech Investment Management LLC purchased a new stake in Monarch Casino & Resort during the 3rd quarter valued at about $444,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Monarch Casino & Resort by 141.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,736 shares of the company’s stock worth $613,000 after purchasing an additional 4,528 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Monarch Casino & Resort in the 3rd quarter worth approximately $1,868,000. Victory Capital Management Inc. raised its stake in Monarch Casino & Resort by 58.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,462 shares of the company’s stock worth $671,000 after acquiring an additional 3,138 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Monarch Casino & Resort during the 3rd quarter worth approximately $309,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Up 1.0 %

Shares of NASDAQ MCRI opened at $84.42 on Monday. The business’s 50 day moving average price is $78.72 and its 200 day moving average price is $73.36. The firm has a market cap of $1.55 billion, a P/E ratio of 18.68 and a beta of 1.73. Monarch Casino & Resort, Inc. has a 52 week low of $62.03 and a 52 week high of $85.10.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MCRI shares. Truist Financial increased their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus boosted their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th.

Monarch Casino & Resort Profile

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.