Texas Permanent School Fund Boosts Stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Texas Permanent School Fund raised its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRIGet Rating) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,550 shares of the company’s stock after acquiring an additional 252 shares during the period. Texas Permanent School Fund owned approximately 0.05% of Monarch Casino & Resort worth $560,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in Monarch Casino & Resort by 5,820.0% during the second quarter. Meeder Asset Management Inc. now owns 592 shares of the company’s stock valued at $35,000 after acquiring an additional 582 shares during the period. First Horizon Advisors Inc. purchased a new stake in Monarch Casino & Resort during the second quarter valued at about $36,000. KBC Group NV purchased a new stake in Monarch Casino & Resort during the second quarter valued at about $65,000. Captrust Financial Advisors grew its position in Monarch Casino & Resort by 30.0% during the first quarter. Captrust Financial Advisors now owns 1,593 shares of the company’s stock valued at $139,000 after acquiring an additional 368 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Monarch Casino & Resort by 190.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,167 shares of the company’s stock valued at $189,000 after acquiring an additional 1,421 shares during the period. Hedge funds and other institutional investors own 65.80% of the company’s stock.

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI opened at $80.80 on Tuesday. Monarch Casino & Resort, Inc. has a one year low of $54.01 and a one year high of $94.26. The business’s 50-day simple moving average is $68.09 and its 200 day simple moving average is $64.72. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 18.62 and a beta of 1.71.

Analyst Upgrades and Downgrades

MCRI has been the subject of several analyst reports. Truist Financial upped their target price on Monarch Casino & Resort from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Thursday, October 20th. Stifel Nicolaus raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their target price for the stock from $70.00 to $77.00 in a research report on Thursday, October 20th. Finally, StockNews.com initiated coverage on Monarch Casino & Resort in a research report on Wednesday, October 12th. They issued a “buy” rating for the company.

Monarch Casino & Resort Company Profile

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Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. The company also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. As of December 31, 2021, its Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 818 guest rooms and suites; 8 food outlets; 2 gourmet coffee and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.

See Also

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

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