Cambiar Investors LLC Trims Stock Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Cambiar Investors LLC cut its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,555 shares of the company’s stock after selling 2,880 shares during the quarter. Cambiar Investors LLC owned about 0.18% of Monarch Casino & Resort worth $2,647,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. DAVENPORT & Co LLC lifted its position in Monarch Casino & Resort by 1.6% during the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company’s stock worth $98,696,000 after buying an additional 19,845 shares during the period. Janus Henderson Group PLC lifted its position in Monarch Casino & Resort by 0.9% during the third quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock worth $30,809,000 after buying an additional 3,488 shares during the period. Wellington Management Group LLP lifted its position in Monarch Casino & Resort by 3.9% during the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after buying an additional 8,283 shares during the period. FMR LLC lifted its position in Monarch Casino & Resort by 1.1% during the third quarter. FMR LLC now owns 134,098 shares of the company’s stock worth $10,630,000 after buying an additional 1,396 shares during the period. Finally, Jane Street Group LLC raised its holdings 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 worth $9,280,000 after purchasing an additional 98,153 shares during the period. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction that occurred 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 owns 528,436 shares in the company, valued at $41,059,477.20. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 24.94% of the company’s stock.

Monarch Casino & Resort Stock Performance

MCRI stock opened at $85.41 on Tuesday. Monarch Casino & Resort, Inc. has a 1 year low of $64.50 and a 1 year high of $89.06. The firm has a market cap of $1.57 billion, a P/E ratio of 18.90 and a beta of 1.74. The stock has a 50-day simple moving average of $82.61 and a 200-day simple moving average of $79.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Monarch Casino & Resort in a report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price objective on the stock. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and raised their price objective for the stock from $82.00 to $100.00 in a report on Tuesday, January 14th. Finally, Jefferies Financial Group raised their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $84.00.

Monarch Casino & Resort Profile

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.