Victory Capital Management Inc. Boosts Stock Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Victory Capital Management Inc. grew its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 17.9% in the first quarter, Holdings Channel.com reports. The firm owned 4,166 shares of the company’s stock after acquiring an additional 631 shares during the quarter. Victory Capital Management Inc.’s holdings in Monarch Casino & Resort were worth $253,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Ziegler Capital Management LLC purchased a new stake in shares of Monarch Casino & Resort in the first quarter valued at approximately $333,000. JustInvest LLC purchased a new position in Monarch Casino & Resort in the first quarter worth approximately $599,000. Comerica Bank grew its position in Monarch Casino & Resort by 933.1% in the first quarter. Comerica Bank now owns 120,124 shares of the company’s stock worth $8,031,000 after acquiring an additional 108,496 shares during the period. Assenagon Asset Management S.A. purchased a new position in Monarch Casino & Resort in the first quarter worth approximately $810,000. Finally, Whittier Trust Co. grew its position in Monarch Casino & Resort by 9.1% in the first quarter. Whittier Trust Co. now owns 72,057 shares of the company’s stock worth $4,367,000 after acquiring an additional 6,024 shares during the period. Institutional investors and hedge funds own 64.99% of the company’s stock.

In other news, COO David-Jacques Farahi sold 29,700 shares of the stock in a transaction on Monday, May 17th. The stock was sold at an average price of $70.93, for a total value of $2,106,621.00. Following the sale, the chief operating officer now directly owns 92,116 shares in the company, valued at $6,533,787.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 25.27% of the stock is currently owned by company insiders.

NASDAQ:MCRI opened at $70.52 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.60 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average price is $69.45. Monarch Casino & Resort, Inc. has a 52 week low of $30.29 and a 52 week high of $76.00. The firm has a market capitalization of $1.31 billion, a PE ratio of 45.50 and a beta of 1.79.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Tuesday, April 27th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Monarch Casino & Resort had a return on equity of 8.27% and a net margin of 14.31%. The company had revenue of $74.96 million for the quarter, compared to analysts’ expectations of $62.50 million. As a group, equities analysts predict that Monarch Casino & Resort, Inc. will post 2.63 earnings per share for the current fiscal year.

Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Monarch Casino & Resort from a “sell” rating to a “hold” rating and set a $77.00 price objective for the company in a research report on Wednesday, April 28th. Truist increased their price objective on Monarch Casino & Resort from $70.00 to $77.00 in a research report on Tuesday, April 27th. Finally, TheStreet upgraded Monarch Casino & Resort from a “c+” rating to a “b” rating in a research report on Wednesday, May 19th.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. As of February 24, 2021, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 818 guest rooms and suites; 8 food outlets; 2 gourmet coffee and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.

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

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