Kestra Advisory Services LLC Buys New Shares in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Kestra Advisory Services LLC purchased a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,577 shares of the company’s stock, valued at approximately $459,000.

Other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Monarch Casino & Resort in the 4th quarter worth approximately $28,000. Vantage Consulting Group Inc acquired a new position in shares of Monarch Casino & Resort in the fourth quarter valued at $29,000. Nisa Investment Advisors LLC bought a new position in Monarch Casino & Resort in the fourth quarter worth $53,000. Victory Capital Management Inc. bought a new position in Monarch Casino & Resort in the fourth quarter worth $216,000. Finally, BNP Paribas Arbitrage SA increased its holdings in Monarch Casino & Resort by 39.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,664 shares of the company’s stock valued at $222,000 after buying an additional 1,045 shares during the period. 64.99% of the stock is owned by hedge funds and other institutional investors.

In other Monarch Casino & Resort news, COO David-Jacques Farahi sold 29,700 shares of Monarch Casino & Resort 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 completion of the transaction, the chief operating officer now owns 92,116 shares in the company, valued at approximately $6,533,787.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 25.27% of the stock is owned by corporate insiders.

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

Shares of Monarch Casino & Resort stock opened at $70.52 on Friday. The firm has a market cap of $1.31 billion, a PE ratio of 45.50 and a beta of 1.79. 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 50-day moving average price is $69.45. Monarch Casino & Resort, Inc. has a 12-month low of $30.29 and a 12-month high of $76.00.

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

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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