Teacher Retirement System of Texas Sells 5,759 Shares of Monarch Casino & Resort, Inc. $MCRI

Teacher Retirement System of Texas reduced its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,910 shares of the company’s stock after selling 5,759 shares during the period. Teacher Retirement System of Texas owned about 0.36% of Monarch Casino & Resort worth $6,870,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in Monarch Casino & Resort by 5.5% in the second quarter. American Century Companies Inc. now owns 471,072 shares of the company’s stock valued at $40,719,000 after purchasing an additional 24,472 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Monarch Casino & Resort by 211.5% during the third quarter. Assenagon Asset Management S.A. now owns 68,092 shares of the company’s stock valued at $7,207,000 after acquiring an additional 46,235 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Monarch Casino & Resort by 10.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 108,791 shares of the company’s stock worth $9,404,000 after purchasing an additional 10,553 shares during the period. Tributary Capital Management LLC lifted its position in shares of Monarch Casino & Resort by 57.8% in the 3rd quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock worth $41,204,000 after purchasing an additional 142,621 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Monarch Casino & Resort during the second quarter valued at approximately $321,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $112.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $92.00 to $97.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company raised their price objective on Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $99.40.

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 on Wednesday, December 17th. The stock was sold at an average price of $100.63, for a total value of $100,630.00. Following the completion of the sale, the chief executive officer directly owned 553,110 shares of the company’s stock, valued at $55,659,459.30. This trade represents a 0.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 25.52% of the company’s stock.

Monarch Casino & Resort Price Performance

Shares of NASDAQ:MCRI opened at $89.58 on Tuesday. Monarch Casino & Resort, Inc. has a 1 year low of $69.99 and a 1 year high of $113.88. The business’s 50 day moving average price is $95.49 and its 200-day moving average price is $97.97. The firm has a market capitalization of $1.63 billion, a PE ratio of 16.17 and a beta of 1.36.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.