Morgan Dempsey Capital Management LLC Sells 272 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Morgan Dempsey Capital Management LLC decreased its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,975 shares of the company’s stock after selling 272 shares during the quarter. Morgan Dempsey Capital Management LLC’s holdings in Monarch Casino & Resort were worth $156,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MCRI. Golden State Wealth Management LLC bought a new position in Monarch Casino & Resort in the fourth quarter worth $53,000. KBC Group NV increased its holdings in shares of Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after acquiring an additional 396 shares in the last quarter. Independence Bank of Kentucky bought a new position in shares of Monarch Casino & Resort during the fourth quarter valued at $93,000. Nisa Investment Advisors LLC increased its holdings in shares of Monarch Casino & Resort by 30.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock valued at $134,000 after acquiring an additional 400 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Monarch Casino & Resort by 49.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,760 shares of the company’s stock valued at $218,000 after acquiring an additional 917 shares in the last quarter. Institutional investors own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MCRI shares. Jefferies Financial Group raised their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday, January 3rd. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a report on Wednesday, February 12th. Stifel Nicolaus raised their price target on Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Finally, Truist Financial upgraded 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 report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Monarch Casino & Resort presently has an average rating of “Hold” and a consensus target price of $87.20.

Monarch Casino & Resort Stock Performance

NASDAQ MCRI opened at $91.58 on Friday. Monarch Casino & Resort, Inc. has a one year low of $64.50 and a one year high of $96.11. The stock has a 50-day moving average of $84.66 and a 200 day moving average of $80.97. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 18.50 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same period in the prior year, the business posted $1.03 earnings per share. On average, equities analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the transaction, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 24.94% of the company’s stock.

Monarch Casino & Resort Profile

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.