Monarch Casino & Resort, Inc. (MCRI) Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,066,464 shares of the company’s stock after acquiring an additional 3,567 shares during the quarter. JPMorgan Chase & Co. owned approximately 6.03% of Monarch Casino & Resort worth $41,454,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. purchased a new position in Monarch Casino & Resort during the second quarter valued at approximately $156,000. Macquarie Group Ltd. purchased a new position in Monarch Casino & Resort during the third quarter valued at approximately $171,000. Russell Investments Group Ltd. purchased a new position in Monarch Casino & Resort during the second quarter valued at approximately $173,000. Thrivent Financial For Lutherans purchased a new position in Monarch Casino & Resort during the second quarter valued at approximately $201,000. Finally, Nationwide Fund Advisors increased its holdings in Monarch Casino & Resort by 6.6% during the second quarter. Nationwide Fund Advisors now owns 7,156 shares of the company’s stock valued at $216,000 after buying an additional 446 shares during the period. 58.29% of the stock is currently owned by institutional investors and hedge funds.

In related news, President Bob Farahi sold 10,111 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $45.48, for a total transaction of $459,848.28. Following the completion of the transaction, the president now directly owns 472,405 shares in the company, valued at $21,484,979.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ben Farahi sold 35,000 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $42.99, for a total transaction of $1,504,650.00. Following the transaction, the insider now owns 1,125,772 shares of the company’s stock, valued at $48,396,938.28. The disclosure for this sale can be found here. Insiders have sold 138,476 shares of company stock valued at $6,259,906 over the last quarter. Insiders own 27.56% of the company’s stock.

Monarch Casino & Resort, Inc. (MCRI) traded down $0.25 during trading hours on Tuesday, hitting $44.57. 97,332 shares of the stock traded hands, compared to its average volume of 73,050. Monarch Casino & Resort, Inc. has a 1-year low of $23.10 and a 1-year high of $47.92. The company has a quick ratio of 1.08, a current ratio of 1.17 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $793.34, a P/E ratio of 29.32 and a beta of 1.11.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Monarch Casino & Resort had a net margin of 11.99% and a return on equity of 11.25%. The business had revenue of $63.03 million during the quarter, compared to the consensus estimate of $60.05 million. research analysts forecast that Monarch Casino & Resort, Inc. will post 1.51 earnings per share for the current fiscal year.

Several brokerages have weighed in on MCRI. ValuEngine upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Zacks Investment Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, October 11th. UBS Group upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Union Gaming Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Finally, BidaskClub downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $53.25.

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About Monarch Casino & Resort

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

Institutional Ownership by Quarter for Monarch Casino & Resort (NASDAQ:MCRI)

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