Vest Financial LLC Acquires 4,482 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Vest Financial LLC boosted its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 38.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,107 shares of the company’s stock after acquiring an additional 4,482 shares during the quarter. Vest Financial LLC owned about 0.09% of Monarch Casino & Resort worth $1,097,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Texas Permanent School Fund Corp boosted its holdings in shares of Monarch Casino & Resort by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 11,682 shares of the company’s stock worth $876,000 after purchasing an additional 152 shares during the period. Pitcairn Co. boosted its stake in Monarch Casino & Resort by 4.3% during the first quarter. Pitcairn Co. now owns 5,698 shares of the company’s stock worth $427,000 after buying an additional 235 shares during the period. Price T Rowe Associates Inc. MD increased its position in Monarch Casino & Resort by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,851 shares of the company’s stock valued at $289,000 after acquiring an additional 443 shares during the last quarter. US Bancorp DE raised its stake in shares of Monarch Casino & Resort by 8.6% in the first quarter. US Bancorp DE now owns 6,124 shares of the company’s stock valued at $459,000 after acquiring an additional 483 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Monarch Casino & Resort by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 72,531 shares of the company’s stock worth $5,439,000 after purchasing an additional 491 shares during the period. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock opened at $74.84 on Friday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 17.69 and a beta of 1.73. The firm has a 50-day moving average of $73.06 and a two-hundred day moving average of $70.45. Monarch Casino & Resort, Inc. has a 1 year low of $56.25 and a 1 year high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $128.14 million for the quarter, compared to analysts’ expectations of $126.03 million. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. Research analysts expect that Monarch Casino & Resort, Inc. will post 4.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Macquarie reissued a “neutral” rating and issued a $76.00 price objective on shares of Monarch Casino & Resort in a research report on Thursday, July 25th. Truist Financial raised their price target on Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $68.00, for a total value of $136,000.00. Following the completion of the sale, the chief executive officer now directly owns 525,310 shares in the company, valued at $35,721,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 24.94% of the company’s stock.

Monarch Casino & Resort Company 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 incorporated in 1993 and is based in Reno, Nevada.