Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Short Interest Update

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 196,400 shares, an increase of 25.1% from the October 31st total of 157,000 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average trading volume of 113,700 shares, the short-interest ratio is presently 1.7 days.

Analyst Ratings Changes

MCRI has been the subject of several analyst reports. StockNews.com raised shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a report on Thursday. Truist Financial increased their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th.

Institutional Trading of Monarch Casino & Resort

Institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. increased its position in shares of Monarch Casino & Resort by 7.3% in the third quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock valued at $665,000 after buying an additional 597 shares in the last quarter. Barclays PLC grew its stake in Monarch Casino & Resort by 108.2% in the 3rd quarter. Barclays PLC now owns 33,508 shares of the company’s stock valued at $2,656,000 after acquiring an additional 17,413 shares during the last quarter. Jane Street Group LLC increased its holdings in Monarch Casino & Resort by 518.8% during the 3rd quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after acquiring an additional 98,153 shares in the last quarter. Wellington Management Group LLP raised its position in Monarch Casino & Resort by 3.9% during the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after acquiring an additional 8,283 shares during the last quarter. Finally, Weiss Asset Management LP raised its position in Monarch Casino & Resort by 1,289.7% during the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock worth $6,279,000 after acquiring an additional 73,512 shares during the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Up 0.0 %

Shares of NASDAQ MCRI opened at $84.01 on Monday. The firm has a 50-day moving average price of $79.58 and a 200 day moving average price of $73.95. Monarch Casino & Resort has a 52 week low of $62.03 and a 52 week high of $86.68. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 18.59 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. The company had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same period last year, the firm earned $1.38 EPS. Equities research analysts expect that Monarch Casino & Resort will post 4.72 EPS for the current fiscal year.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.