GHP Investment Advisors Inc. Takes Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

GHP Investment Advisors Inc. purchased a new position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,608 shares of the company’s stock, valued at approximately $600,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCRI. Financial Management Professionals Inc. acquired a new position in shares of Monarch Casino & Resort in the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC increased its stake in shares of Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after buying an additional 178 shares during the last quarter. KBC Group NV boosted its stake in 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 acquiring an additional 396 shares during the last quarter. Independence Bank of Kentucky bought a new position in Monarch Casino & Resort during the 4th quarter valued at $93,000. Finally, Nisa Investment Advisors LLC increased its position in shares of 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 purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

Shares of MCRI opened at $85.91 on Friday. Monarch Casino & Resort, Inc. has a 12 month low of $64.50 and a 12 month high of $89.06. The stock has a fifty day moving average price of $82.57 and a 200 day moving average price of $79.02. The company has a market cap of $1.58 billion, a P/E ratio of 19.01 and a beta of 1.74.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company assumed coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They issued an “underweight” rating and a $79.00 target price for the company. Stifel Nicolaus upped their price target 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 Monarch Casino & Resort from a “hold” rating to a “buy” rating and raised their price objective for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group increased their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $84.00.

Insider Activity

In other news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the sale, the chief executive officer now owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 24.94% of the company’s stock.

About Monarch Casino & Resort

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.