Nationwide Fund Advisors Has $216,000 Position in Monarch Casino & Resort, Inc. (MCRI)

Nationwide Fund Advisors lifted its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 6.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,156 shares of the company’s stock after purchasing an additional 446 shares during the quarter. Nationwide Fund Advisors’ holdings in Monarch Casino & Resort were worth $216,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Uniplan Investment Counsel Inc. grew its holdings in shares of Monarch Casino & Resort by 40.3% in the second quarter. Uniplan Investment Counsel Inc. now owns 319,068 shares of the company’s stock valued at $9,651,000 after purchasing an additional 91,659 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Monarch Casino & Resort by 27.5% in the second quarter. Alliancebernstein L.P. now owns 18,100 shares of the company’s stock valued at $548,000 after purchasing an additional 3,900 shares during the period. Vanguard Group Inc. grew its holdings in shares of Monarch Casino & Resort by 10.4% in the first quarter. Vanguard Group Inc. now owns 580,692 shares of the company’s stock valued at $17,153,000 after purchasing an additional 54,762 shares during the period. TIAA CREF Investment Management LLC grew its holdings in shares of Monarch Casino & Resort by 39.7% in the second quarter. TIAA CREF Investment Management LLC now owns 52,905 shares of the company’s stock valued at $1,600,000 after purchasing an additional 15,032 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Monarch Casino & Resort by 4.1% in the first quarter. Principal Financial Group Inc. now owns 85,910 shares of the company’s stock valued at $2,538,000 after purchasing an additional 3,398 shares during the period. 57.59% of the stock is owned by hedge funds and other institutional investors.

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A number of equities research analysts recently issued reports on MCRI shares. Zacks Investment Research raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Friday, July 28th. ValuEngine raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Union Gaming Research raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. UBS AG raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Finally, BidaskClub raised shares of Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $53.25.

In other news, major shareholder Ben Farahi sold 18,600 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $43.76, for a total transaction of $813,936.00. Following the sale, the insider now owns 1,107,172 shares of the company’s stock, valued at $48,449,846.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Bob Farahi sold 2,020 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $45.53, for a total transaction of $91,970.60. Following the sale, the president now directly owns 472,405 shares in the company, valued at approximately $21,508,599.65. The disclosure for this sale can be found here. Insiders sold 65,822 shares of company stock worth $2,874,609 in the last ninety days. 27.56% of the stock is currently owned by corporate insiders.

Monarch Casino & Resort, Inc. (NASDAQ MCRI) opened at $45.40 on Wednesday. Monarch Casino & Resort, Inc. has a 1 year low of $23.10 and a 1 year high of $46.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.17 and a quick ratio of 1.08. The company has a market cap of $805.37, a PE ratio of 29.93 and a beta of 1.09.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Tuesday, October 24th. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. Monarch Casino & Resort had a net margin of 11.99% and a return on equity of 11.25%. The company had revenue of $63.03 million for the quarter, compared to analysts’ expectations of $60.05 million. equities research analysts forecast that Monarch Casino & Resort, Inc. will post 1.51 EPS for the current fiscal year.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

Institutional Ownership by Quarter for Monarch Casino & Resort (NASDAQ:MCRI)

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