Manning & Napier Advisors LLC Takes $3.31 Million Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Manning & Napier Advisors LLC acquired a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 48,540 shares of the company’s stock, valued at approximately $3,307,000. Manning & Napier Advisors LLC owned 0.26% of Monarch Casino & Resort at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Diversified Trust Co bought a new stake in Monarch Casino & Resort in the 1st quarter worth $203,000. ProShare Advisors LLC purchased a new position in Monarch Casino & Resort during the 1st quarter valued at about $204,000. Choate Investment Advisors bought a new position in Monarch Casino & Resort during the 1st quarter valued at approximately $225,000. Windham Capital Management LLC bought a new position in Monarch Casino & Resort during the 4th quarter valued at approximately $209,000. Finally, Quadrature Capital Ltd purchased a new stake in Monarch Casino & Resort in the 1st quarter worth approximately $239,000. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ MCRI traded down $0.53 during mid-day trading on Friday, hitting $73.11. 56,771 shares of the stock traded hands, compared to its average volume of 124,029. The stock has a fifty day moving average price of $69.58 and a 200-day moving average price of $69.52. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 17.28 and a beta of 1.74. Monarch Casino & Resort, Inc. has a 52 week low of $56.25 and a 52 week high of $80.22.

Analyst Ratings Changes

A number of brokerages recently commented on MCRI. Truist Financial upped their target price on Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Macquarie restated a “neutral” rating and issued a $76.00 price objective on shares of Monarch Casino & Resort in a report on Thursday, July 25th.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $68.00, for a total value of $136,000.00. Following the sale, the chief executive officer now directly owns 525,310 shares of the company’s stock, valued at approximately $35,721,080. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 24.94% of the company’s stock.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.