SkyOak Wealth LLC Makes New $288,000 Investment in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

SkyOak Wealth LLC purchased a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,648 shares of the company’s stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors have also modified their holdings of MCRI. DAVENPORT & Co LLC lifted its stake in Monarch Casino & Resort by 1.6% in the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company’s stock valued at $98,696,000 after buying an additional 19,845 shares during the last quarter. Janus Henderson Group PLC lifted its position in Monarch Casino & Resort by 0.9% in the 3rd quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock valued at $30,809,000 after purchasing an additional 3,488 shares during the last quarter. Wellington Management Group LLP boosted its stake in Monarch Casino & Resort by 3.9% during the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock valued at $17,410,000 after purchasing an additional 8,283 shares during the period. Dimensional Fund Advisors LP grew its position in Monarch Casino & Resort by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock worth $11,949,000 after purchasing an additional 9,990 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Monarch Casino & Resort by 1.1% in the third quarter. FMR LLC now owns 134,098 shares of the company’s stock valued at $10,630,000 after purchasing an additional 1,396 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Stock Down 0.6 %

NASDAQ:MCRI opened at $85.34 on Monday. The business’s 50-day moving average price is $82.49 and its 200 day moving average price is $78.68. Monarch Casino & Resort, Inc. has a 52-week low of $64.50 and a 52-week high of $89.06. The firm has a market cap of $1.57 billion, a P/E ratio of 18.88 and a beta of 1.74.

Insider Activity

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

Wall Street Analyst Weigh In

MCRI has been the subject of several analyst reports. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Jefferies Financial Group increased their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company assumed coverage on shares of Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Monarch Casino & Resort presently has a consensus rating of “Hold” and an average price target of $84.00.

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.