Heritage Family Offices LLP Increases Stock Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Heritage Family Offices LLP boosted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,271 shares of the company’s stock after purchasing an additional 278 shares during the period. Heritage Family Offices LLP’s holdings in Monarch Casino & Resort were worth $254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MCRI. Fuller & Thaler Asset Management Inc. purchased a new position in Monarch Casino & Resort in the fourth quarter worth about $19,346,000. Raymond James Financial Inc. bought a new position in shares of Monarch Casino & Resort in the fourth quarter worth about $6,118,000. JPMorgan Chase & Co. raised its stake in shares of Monarch Casino & Resort by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock worth $72,488,000 after buying an additional 72,764 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Monarch Casino & Resort by 103.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 133,673 shares of the company’s stock worth $10,547,000 after buying an additional 67,973 shares during the period. Finally, Orvieto Partners L.P. bought a new position in shares of Monarch Casino & Resort in the fourth quarter worth about $4,994,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI opened at $83.64 on Tuesday. The stock’s fifty day moving average is $78.60 and its 200 day moving average is $82.45. Monarch Casino & Resort, Inc. has a fifty-two week low of $65.65 and a fifty-two week high of $96.11. The firm has a market capitalization of $1.54 billion, a PE ratio of 16.90 and a beta of 1.59.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $125.39 million for the quarter, compared to analyst estimates of $122.70 million. Equities analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MCRI. Truist Financial decreased their price objective on Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. 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 research note on Wednesday, April 23rd. Wall Street Zen upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Friday. Wells Fargo & Company raised their price objective on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a research report on Wednesday, February 12th. Finally, Macquarie reaffirmed a “neutral” rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $88.60.

About Monarch Casino & Resort

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.