Trust Point Inc. Increases Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Trust Point Inc. grew its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 1.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 11,008 shares of the company’s stock after acquiring an additional 162 shares during the period. Trust Point Inc. owned about 0.06% of Monarch Casino & Resort worth $873,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCRI. Millennium Management LLC grew its holdings in shares of Monarch Casino & Resort by 376.1% during the 2nd quarter. Millennium Management LLC now owns 85,869 shares of the company’s stock worth $5,850,000 after acquiring an additional 67,833 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Monarch Casino & Resort in the 2nd quarter worth approximately $3,307,000. American Century Companies Inc. boosted its position in shares of Monarch Casino & Resort by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after purchasing an additional 46,323 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Monarch Casino & Resort in the 1st quarter worth approximately $2,822,000. Finally, Vest Financial LLC bought a new stake in shares of Monarch Casino & Resort in the 1st quarter worth approximately $872,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Monarch Casino & Resort Stock Performance

Shares of NASDAQ:MCRI opened at $75.92 on Friday. The business has a 50-day simple moving average of $75.73 and a two-hundred day simple moving average of $71.44. Monarch Casino & Resort, Inc. has a fifty-two week low of $56.25 and a fifty-two week high of $80.22. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 17.95 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, July 24th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $128.14 million during the quarter, compared to the consensus estimate of $126.03 million. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. As a group, research analysts predict that Monarch Casino & Resort, Inc. will post 4.62 earnings per share for the current year.

About Monarch Casino & Resort

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.