Emmett Investment Management LP Makes New $3.55 Million Investment in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Emmett Investment Management LP purchased a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 44,948 shares of the company’s stock, valued at approximately $3,546,000. Monarch Casino & Resort makes up about 3.2% of Emmett Investment Management LP’s investment portfolio, making the stock its 15th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC lifted its position in Monarch Casino & Resort by 47.0% during the fourth quarter. LPL Financial LLC now owns 6,737 shares of the company’s stock valued at $532,000 after purchasing an additional 2,155 shares during the period. Barclays PLC grew its holdings in shares of Monarch Casino & Resort by 108.2% in the third quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after acquiring an additional 17,413 shares during the period. Jackson Creek Investment Advisors LLC purchased a new stake in Monarch Casino & Resort during the fourth quarter valued at $1,516,000. Dark Forest Capital Management LP purchased a new stake in Monarch Casino & Resort during the fourth quarter valued at $325,000. Finally, Ritholtz Wealth Management bought a new position in Monarch Casino & Resort in the fourth quarter valued at about $254,000. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Trading Up 0.4 %

NASDAQ:MCRI opened at $79.70 on Friday. The stock has a 50-day moving average price of $79.15 and a 200 day moving average price of $82.14. The stock has a market capitalization of $1.47 billion, a P/E ratio of 16.10 and a beta of 1.59. Monarch Casino & Resort, Inc. has a 12-month low of $64.58 and a 12-month high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. The firm had revenue of $125.39 million during the quarter, compared to analyst estimates of $122.70 million. On average, research analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of 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 decreased their target price on Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Macquarie restated a “neutral” rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Truist Financial reduced their target price on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $88.60.

Monarch Casino & Resort Company 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.