ExodusPoint Capital Management LP boosted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Free Report) by 828.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,211 shares of the company’s stock after buying an additional 28,743 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.17% of Monarch Casino & Resort worth $2,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of MCRI. Advisor Group Holdings Inc. boosted its stake in Monarch Casino & Resort by 31.6% in the first quarter. Advisor Group Holdings Inc. now owns 2,808 shares of the company’s stock worth $245,000 after buying an additional 675 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Monarch Casino & Resort by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 130,546 shares of the company’s stock valued at $11,387,000 after purchasing an additional 6,972 shares during the period. US Bancorp DE boosted its stake in shares of Monarch Casino & Resort by 11.9% during the first quarter. US Bancorp DE now owns 3,292 shares of the company’s stock valued at $286,000 after purchasing an additional 349 shares during the period. Citigroup Inc. boosted its stake in shares of Monarch Casino & Resort by 11.6% during the first quarter. Citigroup Inc. now owns 11,323 shares of the company’s stock valued at $988,000 after purchasing an additional 1,181 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Monarch Casino & Resort by 190.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the company’s stock valued at $189,000 after purchasing an additional 1,421 shares during the period. Hedge funds and other institutional investors own 61.92% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.
Monarch Casino & Resort Stock Performance
Shares of MCRI stock opened at $67.40 on Friday. The stock has a fifty day moving average of $69.01 and a 200 day moving average of $70.73. Monarch Casino & Resort, Inc. has a 52 week low of $54.21 and a 52 week high of $85.67. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 14.68 and a beta of 1.65. The company has a quick ratio of 0.51, a current ratio of 0.58 and a debt-to-equity ratio of 0.09.
Monarch Casino & Resort (NASDAQ:MCRI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 19th. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Monarch Casino & Resort had a return on equity of 18.01% and a net margin of 18.20%. The business had revenue of $123.68 million during the quarter, compared to analysts’ expectations of $123.57 million. During the same period in the previous year, the business earned $1.11 EPS. As a group, research analysts expect that Monarch Casino & Resort, Inc. will post 4.57 earnings per share for the current year.
Monarch Casino & Resort Profile
Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was founded in 1972 and is based in Reno, Nevada.
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