Golden State Wealth Management LLC Acquires New Stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Golden State Wealth Management LLC bought a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 666 shares of the company’s stock, valued at approximately $53,000.

Other large investors have also made changes to their positions in the company. Financial Management Professionals Inc. purchased a new stake in Monarch Casino & Resort in the third quarter worth about $30,000. GAMMA Investing LLC raised its position in shares of Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after purchasing an additional 178 shares during the period. KBC Group NV lifted its stake in shares of Monarch Casino & Resort by 67.8% during the 4th quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after buying an additional 396 shares in the last quarter. Independence Bank of Kentucky bought a new position in Monarch Casino & Resort in the 4th quarter worth $93,000. Finally, Nisa Investment Advisors LLC increased its stake in Monarch Casino & Resort by 30.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after buying an additional 400 shares in the last quarter. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ MCRI opened at $85.41 on Tuesday. Monarch Casino & Resort, Inc. has a fifty-two week low of $64.50 and a fifty-two week high of $89.06. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 18.90 and a beta of 1.74. The business’s 50 day moving average price is $82.61 and its 200-day moving average price is $79.34.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MCRI shares. Stifel Nicolaus boosted their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their price target for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th. Wells Fargo & Company initiated coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target for the company. Jefferies Financial Group boosted their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Finally, StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Monarch Casino & Resort currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the transaction, the chief executive officer now directly owns 528,436 shares in the company, valued at $41,059,477.20. This represents a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.94% of the company’s stock.

Monarch Casino & Resort Profile

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.