US Bancorp DE boosted its stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 29,054 shares of the company’s stock after buying an additional 65 shares during the period. US Bancorp DE’s holdings in Monarch Casino & Resort were worth $878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Park West Asset Management LLC increased its position in Monarch Casino & Resort by 101.2% in the first quarter. Park West Asset Management LLC now owns 905,248 shares of the company’s stock valued at $26,741,000 after buying an additional 455,248 shares in the last quarter. Lafitte Capital Management LP increased its position in Monarch Casino & Resort by 14.4% in the first quarter. Lafitte Capital Management LP now owns 793,008 shares of the company’s stock valued at $23,425,000 after buying an additional 99,839 shares in the last quarter. Vanguard Group Inc. increased its position in 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 buying an additional 54,762 shares in the last quarter. State Street Corp increased its position in Monarch Casino & Resort by 10.4% in the fourth quarter. State Street Corp now owns 265,108 shares of the company’s stock valued at $6,838,000 after buying an additional 24,905 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Monarch Casino & Resort by 3.0% in the first quarter. Wellington Management Group LLP now owns 726,961 shares of the company’s stock valued at $21,474,000 after buying an additional 21,394 shares in the last quarter. 56.79% of the stock is owned by hedge funds and other institutional investors.

Shares of Monarch Casino & Resort, Inc. (NASDAQ MCRI) traded down 1.30% during mid-day trading on Friday, hitting $34.24. The company’s stock had a trading volume of 22,478 shares. Monarch Casino & Resort, Inc. has a 12-month low of $21.13 and a 12-month high of $35.40. The company has a market cap of $601.53 million, a PE ratio of 23.18 and a beta of 1.06. The stock has a 50-day moving average of $31.44 and a 200-day moving average of $29.04.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Tuesday, July 25th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. Monarch Casino & Resort had a return on equity of 11.16% and a net margin of 11.77%. The company had revenue of $58.23 million during the quarter, compared to analysts’ expectations of $58 million. On average, equities research analysts forecast that Monarch Casino & Resort, Inc. will post $1.51 EPS for the current year.

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A number of analysts have issued reports on the company. Zacks Investment Research raised Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. Deutsche Bank AG raised their target price on Monarch Casino & Resort from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Imperial Capital raised their target price on Monarch Casino & Resort from $27.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, April 13th. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $27.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Finally, BidaskClub downgraded Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Monarch Casino & Resort presently has a consensus rating of “Hold” and an average price target of $46.60.

In other news, President Bob Farahi sold 34,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $34.43, for a total value of $1,170,620.00. Following the completion of the transaction, the president now directly owns 482,516 shares of the company’s stock, valued at $16,613,025.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 27.56% of the company’s stock.

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.

Want to see what other hedge funds are holding MCRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monarch Casino & Resort, Inc. (NASDAQ:MCRI).

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

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