Macquarie Group Ltd. Acquires New Holdings in Monarch Casino & Resort, Inc. (MCRI)

Macquarie Group Ltd. acquired a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,336 shares of the company’s stock, valued at approximately $171,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Quantum Capital Management purchased a new stake in Monarch Casino & Resort in the third quarter worth about $955,000. Russell Investments Group Ltd. lifted its holdings in Monarch Casino & Resort by 95.9% in the third quarter. Russell Investments Group Ltd. now owns 11,267 shares of the company’s stock worth $446,000 after buying an additional 5,516 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in Monarch Casino & Resort by 29.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,730 shares of the company’s stock worth $266,000 after buying an additional 1,540 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Monarch Casino & Resort by 74.1% in the third quarter. BNP Paribas Arbitrage SA now owns 5,662 shares of the company’s stock worth $224,000 after buying an additional 2,409 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Monarch Casino & Resort by 2.4% in the second quarter. The Manufacturers Life Insurance Company now owns 9,754 shares of the company’s stock worth $295,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds own 58.29% of the company’s stock.

MCRI has been the subject of several research analyst reports. Union Gaming Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. UBS upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. ValuEngine lowered shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Zacks Investment Research raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $53.25.

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) opened at $46.81 on Friday. Monarch Casino & Resort, Inc. has a one year low of $23.10 and a one year high of $47.92. The firm has a market cap of $822.72, a P/E ratio of 30.58 and a beta of 1.10. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.10.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Tuesday, October 24th. The company reported $0.49 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $63.03 million during the quarter, compared to the consensus estimate of $60.05 million. equities research analysts expect that Monarch Casino & Resort, Inc. will post 1.51 EPS for the current fiscal year.

In related news, President Bob Farahi sold 26,200 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $47.21, for a total transaction of $1,236,902.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ben Farahi sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $42.99, for a total transaction of $1,504,650.00. Following the sale, the insider now directly owns 1,125,772 shares of the company’s stock, valued at approximately $48,396,938.28. The disclosure for this sale can be found here. Insiders have sold 138,476 shares of company stock valued at $6,259,906 in the last ninety days. Insiders own 27.56% of the company’s stock.

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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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