Magnetar Financial LLC Takes $380,000 Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Magnetar Financial LLC bought a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,815 shares of the company’s stock, valued at approximately $380,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCRI. Jane Street Group LLC raised its position in shares of 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 buying an additional 98,153 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Monarch Casino & Resort in the 4th quarter valued at approximately $6,118,000. Weiss Asset Management LP raised its position in shares of Monarch Casino & Resort by 1,289.7% in the 3rd quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock valued at $6,279,000 after buying an additional 73,512 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Monarch Casino & Resort in the 3rd quarter valued at approximately $2,349,000. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Monarch Casino & Resort in the 3rd quarter valued at approximately $1,868,000. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ MCRI opened at $81.19 on Friday. Monarch Casino & Resort, Inc. has a 52-week low of $64.50 and a 52-week high of $96.11. The firm has a 50 day moving average price of $86.69 and a two-hundred day moving average price of $82.07. The stock has a market cap of $1.50 billion, a P/E ratio of 16.40 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, beating analysts’ consensus estimates of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same period last year, the company posted $1.03 EPS. Analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Insider Activity

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

Analysts Set New Price Targets

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

About Monarch Casino & Resort

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.