Annex Advisory Services LLC Acquires 1,690 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Annex Advisory Services LLC grew its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 12.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,768 shares of the company’s stock after acquiring an additional 1,690 shares during the period. Annex Advisory Services LLC owned 0.08% of Monarch Casino & Resort worth $1,074,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Cerity Partners LLC bought a new stake in shares of Monarch Casino & Resort during the 4th quarter worth $6,562,000. Eagle Asset Management Inc. boosted its holdings in shares of Monarch Casino & Resort by 9.3% during the 4th quarter. Eagle Asset Management Inc. now owns 81,252 shares of the company’s stock worth $5,619,000 after buying an additional 6,882 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Monarch Casino & Resort by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 72,531 shares of the company’s stock worth $5,439,000 after buying an additional 491 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Monarch Casino & Resort during the 2nd quarter worth $3,307,000. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Monarch Casino & Resort during the 1st quarter worth $2,822,000. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock traded down $0.53 during mid-day trading on Friday, reaching $73.11. The company’s stock had a trading volume of 56,791 shares, compared to its average volume of 124,029. Monarch Casino & Resort, Inc. has a 1-year low of $56.25 and a 1-year high of $80.22. The company has a market cap of $1.37 billion, a P/E ratio of 17.28 and a beta of 1.74. The firm’s 50-day moving average is $69.58 and its two-hundred day moving average is $69.52.

Insider Activity

In other news, CEO John Farahi sold 2,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $68.00, for a total value of $136,000.00. Following the completion of the transaction, the chief executive officer now owns 525,310 shares in the company, valued at approximately $35,721,080. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 24.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MCRI shares. Macquarie reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Monarch Casino & Resort in a report on Thursday, July 25th. Truist Financial upped their target price on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, July 25th.

Monarch Casino & Resort Company 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.