Golden State Wealth Management LLC Makes New Investment in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Golden State Wealth Management LLC purchased a new stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 666 shares of the company’s stock, valued at approximately $53,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC raised its stake in shares of Monarch Casino & Resort by 1.6% during the 4th quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company’s stock worth $98,696,000 after acquiring an additional 19,845 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Monarch Casino & Resort by 0.9% during the third quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock worth $30,809,000 after purchasing an additional 3,488 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Monarch Casino & Resort by 3.9% during the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock valued at $17,410,000 after purchasing an additional 8,283 shares during the last quarter. FMR LLC grew its stake in Monarch Casino & Resort by 1.1% during the 3rd quarter. FMR LLC now owns 134,098 shares of the company’s stock worth $10,630,000 after buying an additional 1,396 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Monarch Casino & Resort by 518.8% during the third quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after acquiring an additional 98,153 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

NASDAQ MCRI opened at $85.41 on Tuesday. Monarch Casino & Resort, Inc. has a 1 year low of $64.50 and a 1 year high of $89.06. The company has a market capitalization of $1.57 billion, a PE ratio of 18.90 and a beta of 1.74. The company has a fifty day moving average of $82.61 and a 200 day moving average of $79.34.

Insider Buying and Selling at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the transaction, the chief executive officer now directly owns 528,436 shares in the company, valued at $41,059,477.20. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 24.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MCRI. Stifel Nicolaus boosted their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. Jefferies Financial Group raised their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Wells Fargo & Company started coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price target for the company. Finally, StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Monarch Casino & Resort has an average 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.