American Century Companies Inc. Purchases 34,384 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

American Century Companies Inc. lifted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 404,073 shares of the company’s stock after acquiring an additional 34,384 shares during the quarter. American Century Companies Inc. owned 2.20% of Monarch Casino & Resort worth $31,881,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in Monarch Casino & Resort in the fourth quarter worth about $53,000. KBC Group NV raised its holdings in shares of Monarch Casino & Resort by 67.8% in the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock worth $77,000 after buying an additional 396 shares during the period. Independence Bank of Kentucky bought a new stake in shares of Monarch Casino & Resort during the 4th quarter worth approximately $93,000. Nisa Investment Advisors LLC lifted its stake in shares of Monarch Casino & Resort by 30.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after acquiring an additional 400 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Monarch Casino & Resort by 49.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,760 shares of the company’s stock valued at $218,000 after acquiring an additional 917 shares during the period. 62.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCRI has been the subject of several research analyst reports. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and lifted their target price for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th. Wells Fargo & Company raised their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 12th. 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. Stifel Nicolaus raised their target price 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, Jefferies Financial Group boosted their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $87.20.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock opened at $78.39 on Friday. Monarch Casino & Resort, Inc. has a 1 year low of $64.50 and a 1 year high of $96.11. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 15.84 and a beta of 1.74. The firm’s 50-day moving average is $86.48 and its two-hundred day moving average is $82.20.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share (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 quarter in the prior year, the firm earned $1.03 EPS. On average, equities analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Insider Buying and Selling at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the company’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 in the company, valued at $41,059,477.20. This represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 24.94% of the company’s stock.

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.