Annex Advisory Services LLC Purchases 3,541 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Annex Advisory Services LLC grew its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 28.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,953 shares of the company’s stock after acquiring an additional 3,541 shares during the period. Annex Advisory Services LLC’s holdings in Monarch Casino & Resort were worth $1,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Point Inc. boosted its holdings in Monarch Casino & Resort by 1.5% in the 3rd quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock worth $873,000 after buying an additional 162 shares during the period. GAMMA Investing LLC boosted its stake in shares of Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after acquiring an additional 178 shares during the period. Heritage Family Offices LLP grew its position in shares of Monarch Casino & Resort by 7.0% during the fourth quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock worth $236,000 after purchasing an additional 196 shares in the last quarter. Sei Investments Co. raised its stake in Monarch Casino & Resort by 1.4% during the 2nd quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock valued at $1,342,000 after purchasing an additional 271 shares during the period. Finally, Financial Management Professionals Inc. purchased a new position in Monarch Casino & Resort in the 3rd quarter worth approximately $30,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 528,436 shares in the company, valued at $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 24.94% of the stock is currently owned by insiders.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $84.05 on Tuesday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 18.60 and a beta of 1.73. The stock has a 50 day moving average price of $82.24 and a 200-day moving average price of $77.64. Monarch Casino & Resort, Inc. has a one year low of $64.50 and a one year high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The company had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. During the same period in the previous year, the firm earned $1.38 earnings per share. Sell-side analysts predict that Monarch Casino & Resort, Inc. will post 4.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MCRI. Wells Fargo & Company started coverage on shares of Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price objective on the stock. StockNews.com upgraded shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 9th. Jefferies Financial Group raised their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their target price for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th. Finally, Stifel Nicolaus lifted their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $84.00.

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.