Texas Permanent School Fund Trims Holdings in Monarch Casino & Resort, Inc. (NASDAQ: MCRI)


The Texas Permanent School Fund reduced its stake in Monarch Casino & Resort, Inc. (NASDAQ: MCRIGet a rating) by 2.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor held 9,298 shares of the company after selling 199 shares during the quarter. The Texas Permanent School Fund’s holdings in Monarch Casino & Resort were worth $811,000 at the end of last quarter.

Other hedge funds have also recently changed their positions in the business. Denali Advisors LLC bought a new position in shares of Monarch Casino & Resort in the first quarter worth $113,000. Allspring Global Investments Holdings LLC bought a new stock position in Monarch Casino & Resort in the fourth quarter worth $188,000. SG Americas Securities LLC increased its position in Monarch Casino & Resort shares by 27.3% in the first quarter. SG Americas Securities LLC now owns 2,336 shares of the company valued at $204,000 after purchasing an additional 501 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Monarch Casino & Resort in the fourth quarter worth $242,000. Finally, Advisor Group Holdings Inc. increased its stake in Monarch Casino & Resort by 31.6% during the first quarter. Advisor Group Holdings Inc. now owns 2,808 shares of the company valued at $245,000 after purchasing an additional 675 shares during the period. 62.45% of the shares are currently held by hedge funds and other institutional investors.

Monarch Casino & Resort is trading down 3.0%

Shares of MCRI Action opened at $66.13 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt ratio of 0.09. The company has a 50-day moving average price of $61.21 and a two-hundred-day moving average price of $70.76. Monarch Casino & Resort, Inc. has a 12-month low of $54.01 and a 12-month high of $94.26. The company has a market capitalization of $1.25 billion, a P/E ratio of 16.21 and a beta of 1.65.

Monarch Casino & Resort (NASDAQ: MCRIGet a rating) last reported results on Wednesday, July 20. The company reported earnings per share of $1.11 for the quarter, beating consensus analyst estimates of $1.08 by $0.03. Monarch Casino & Resort achieved a return on equity of 18.01% and a net margin of 17.87%. The company posted revenue of $115.29 million in the quarter, versus analyst estimates of $116.17 million. Stock analysts expect Monarch Casino & Resort, Inc. to post EPS of 4.39 for the current fiscal year.

Analyst upgrades and downgrades

The MCRI has been the subject of several reports by research analysts. Jefferies Financial Group downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating and raised its price target for the company from $85.00 to $90.00 in a Thursday 21 research note. april. Stifel Nicolaus downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a Thursday, April 21 research note. Truist Financial lowered its price target on Monarch Casino & Resort from $100.00 to $85.00 and set a “buy” rating for the company in a Wednesday, July 20 research note. To finish, StockNews.com downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a Thursday, August 11 research note.

Monarch Casino & Resort Profile

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Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. The company also owns and operates Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. As of December 31, 2021, its Atlantis Casino Resort Spa had approximately 61,000 square feet of casino space; 818 rooms and suites; 8 food outlets; 2 gourmet cafés and pastry bars; a 30,000-square-foot spa and health salon with an enclosed pool; 2 retail outlets offering clothing and gift shop items; an 8,000 square foot family entertainment center; and approximately 52,000 square feet of banquet, convention and meeting space.

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Institutional ownership by quarter for Monarch Casino & Resort (NASDAQ:MCRI)



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