Monarch Casino & Resort, Inc. (MCRI) Position Lowered by California State Teachers Retirement System

California State Teachers Retirement System trimmed its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,166 shares of the company’s stock after selling 1,700 shares during the period. California State Teachers Retirement System owned approximately 0.11% of Monarch Casino & Resort worth $580,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth $156,000. Russell Investments Group Ltd. acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth $173,000. Thrivent Financial For Lutherans acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth $201,000. Nationwide Fund Advisors boosted its stake in Monarch Casino & Resort by 6.6% during the 2nd quarter. Nationwide Fund Advisors now owns 7,156 shares of the company’s stock worth $216,000 after purchasing an additional 446 shares during the period. Finally, Texas Permanent School Fund boosted its stake in Monarch Casino & Resort by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 8,052 shares of the company’s stock worth $244,000 after purchasing an additional 84 shares during the period. 58.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Monarch Casino & Resort, Inc. (MCRI) opened at $45.89 on Tuesday. Monarch Casino & Resort, Inc. has a 52 week low of $23.10 and a 52 week high of $47.92. The company has a market cap of $818.29, a price-to-earnings ratio of 30.41 and a beta of 1.10. The company has a quick ratio of 1.08, a current ratio of 1.17 and a debt-to-equity ratio of 0.10.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Tuesday, October 24th. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Monarch Casino & Resort had a net margin of 11.99% and a return on equity of 11.25%. The company had revenue of $63.03 million during the quarter, compared to analysts’ expectations of $60.05 million. equities research analysts expect that Monarch Casino & Resort, Inc. will post 1.51 earnings per share for the current fiscal year.

In other news, major shareholder Ben Farahi sold 35,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $42.99, for a total value of $1,504,650.00. Following the completion of the sale, the insider now owns 1,125,772 shares in the company, valued at approximately $48,396,938.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Bob Farahi sold 26,200 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $47.21, for a total transaction of $1,236,902.00. The disclosure for this sale can be found here. Insiders sold a total of 110,234 shares of company stock valued at $4,949,262 in the last 90 days. Company insiders own 27.56% of the company’s stock.

A number of analysts recently weighed in on MCRI shares. ValuEngine upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Union Gaming Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Wednesday, October 11th. UBS upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Finally, BidaskClub upgraded shares of Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Monarch Casino & Resort has a consensus rating of “Buy” and an average target price of $53.25.

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About Monarch Casino & Resort

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

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Institutional Ownership by Quarter for Monarch Casino & Resort (NASDAQ:MCRI)

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