Legal & General Group Plc Grows Stock Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Legal & General Group Plc raised its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,202 shares of the company’s stock after acquiring an additional 486 shares during the quarter. Legal & General Group Plc owned approximately 0.17% of Monarch Casino & Resort worth $772,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Monarch Casino & Resort by 11.1% in the fourth quarter. Barclays PLC now owns 19,923 shares of the company’s stock valued at $967,000 after acquiring an additional 1,984 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Monarch Casino & Resort by 42.9% during the first quarter. BNP Paribas Arbitrage SA now owns 4,570 shares of the company’s stock valued at $128,000 after buying an additional 1,373 shares during the period. JPMorgan Chase & Co. increased its position in shares of Monarch Casino & Resort by 9.4% during the first quarter. JPMorgan Chase & Co. now owns 970,776 shares of the company’s stock valued at $27,250,000 after buying an additional 83,341 shares during the period. Rhumbline Advisers increased its position in shares of Monarch Casino & Resort by 1.3% during the first quarter. Rhumbline Advisers now owns 37,917 shares of the company’s stock valued at $1,064,000 after buying an additional 480 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Monarch Casino & Resort by 63.1% during the fourth quarter. Victory Capital Management Inc. now owns 7,379 shares of the company’s stock valued at $358,000 after buying an additional 2,856 shares during the period. Hedge funds and other institutional investors own 61.92% of the company’s stock.

Shares of NASDAQ MCRI opened at $34.05 on Wednesday. The firm’s 50 day moving average price is $36.55 and its 200-day moving average price is $39.72. The company has a market cap of $587.95 million, a PE ratio of 23.65 and a beta of 1.49. Monarch Casino & Resort, Inc. has a 52-week low of $12.83 and a 52-week high of $57.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.78 and a current ratio of 0.89.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, April 22nd. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.19). The firm had revenue of $51.01 million during the quarter, compared to the consensus estimate of $53.45 million. Monarch Casino & Resort had a return on equity of 9.39% and a net margin of 11.11%. On average, analysts forecast that Monarch Casino & Resort, Inc. will post -0.32 earnings per share for the current fiscal year.

In other news, President Bob Farahi sold 16,994 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $40.65, for a total value of $690,806.10. Following the transaction, the president now owns 154,423 shares in the company, valued at $6,277,294.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 26.75% of the company’s stock.

MCRI has been the topic of several research analyst reports. SunTrust Banks initiated coverage on shares of Monarch Casino & Resort in a research report on Wednesday, May 27th. They set a “buy” rating and a $50.00 price target on the stock. Zacks Investment Research upgraded shares of Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research report on Tuesday. Union Gaming Research raised shares of Monarch Casino & Resort to a “buy” rating and set a $38.00 price objective on the stock in a research note on Friday, April 24th. Stifel Nicolaus raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $42.00 in a research note on Monday, April 27th. Finally, BidaskClub lowered shares of Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $47.20.

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 Black Hawk in Black Hawk, Colorado. As of February 20, 2019, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso 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.

Featured Story: What impact do institutional investors have on markets?

Want to see what other hedge funds are holding MCRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monarch Casino & Resort, Inc. (NASDAQ:MCRI).

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

Receive News & Ratings for Monarch Casino & Resort Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monarch Casino & Resort and related companies with MarketBeat.com's FREE daily email newsletter.