Teacher Retirement System of Texas Boosts Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Teacher Retirement System of Texas boosted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 19.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,612 shares of the company’s stock after purchasing an additional 17,470 shares during the quarter. Teacher Retirement System of Texas owned about 0.59% of Monarch Casino & Resort worth $8,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC purchased a new stake in Monarch Casino & Resort in the 3rd quarter worth approximately $258,000. Barclays PLC raised its position in shares of Monarch Casino & Resort by 108.2% during the 3rd quarter. Barclays PLC now owns 33,508 shares of the company’s stock valued at $2,656,000 after buying an additional 17,413 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Monarch Casino & Resort during the 4th quarter valued at $1,516,000. Wellington Management Group LLP raised its position 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 buying an additional 8,283 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in shares of Monarch Casino & Resort during the 4th quarter valued at $254,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Stifel Nicolaus raised their price objective on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a research report on Wednesday, February 12th. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Truist Financial raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and increased their target price for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $87.20.

Monarch Casino & Resort Stock Performance

MCRI stock opened at $81.19 on Friday. Monarch Casino & Resort, Inc. has a 52 week low of $64.50 and a 52 week high of $96.11. The firm’s fifty day moving average is $86.69 and its 200 day moving average is $82.07. The firm has a market cap of $1.50 billion, a P/E ratio of 16.40 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same period last year, the firm posted $1.03 EPS. As a group, analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Insider Activity

In other news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of 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 represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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.