Arizona State Retirement System Increases Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Arizona State Retirement System lifted its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Get Rating) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,997 shares of the company’s stock after buying an additional 150 shares during the period. Arizona State Retirement System’s holdings in Monarch Casino & Resort were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Teacher Retirement System of Texas purchased a new position in Monarch Casino & Resort in the third quarter valued at approximately $1,138,000. Cambiar Investors LLC lifted its stake in Monarch Casino & Resort by 37.3% in the fourth quarter. Cambiar Investors LLC now owns 35,789 shares of the company’s stock valued at $2,752,000 after purchasing an additional 9,714 shares during the last quarter. Wakefield Asset Management LLLP purchased a new position in Monarch Casino & Resort in the fourth quarter valued at approximately $738,000. Hancock Whitney Corp purchased a new position in Monarch Casino & Resort in the fourth quarter valued at approximately $232,000. Finally, Brown Advisory Inc. lifted its stake in Monarch Casino & Resort by 20.5% in the third quarter. Brown Advisory Inc. now owns 414,648 shares of the company’s stock valued at $23,278,000 after purchasing an additional 70,424 shares during the last quarter. Hedge funds and other institutional investors own 61.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com assumed coverage on Monarch Casino & Resort in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Stifel Nicolaus increased their target price on Monarch Casino & Resort from $85.00 to $91.00 in a research report on Wednesday, February 15th. Finally, TheStreet downgraded Monarch Casino & Resort from a “b” rating to a “c+” rating in a research report on Thursday, February 16th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Insiders Place Their Bets

In other Monarch Casino & Resort news, President Bob Farahi sold 3,509 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $67.05, for a total transaction of $235,278.45. Following the sale, the president now owns 223,487 shares in the company, valued at $14,984,803.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 24.56% of the company’s stock.

Monarch Casino & Resort Trading Down 0.2 %

NASDAQ:MCRI opened at $67.52 on Tuesday. The company has a market cap of $1.29 billion, a P/E ratio of 15.21 and a beta of 1.67. The stock’s fifty day moving average price is $71.23 and its two-hundred day moving average price is $76.02. Monarch Casino & Resort, Inc. has a 1 year low of $54.01 and a 1 year high of $85.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.50 and a quick ratio of 0.44.

Monarch Casino & Resort Company Profile

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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.