Monarch Casino & Resort, Inc. $MCRI Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC trimmed its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 39.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,871 shares of the company’s stock after selling 11,149 shares during the period. Cambiar Investors LLC’s holdings in Monarch Casino & Resort were worth $1,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in Monarch Casino & Resort by 199.1% during the third quarter. Farther Finance Advisors LLC now owns 329 shares of the company’s stock valued at $35,000 after acquiring an additional 219 shares during the period. USA Financial Formulas purchased a new stake in shares of Monarch Casino & Resort during the 3rd quarter worth about $47,000. Osaic Holdings Inc. increased its position in Monarch Casino & Resort by 210.0% during the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after purchasing an additional 315 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in Monarch Casino & Resort by 57.1% in the third quarter. TD Private Client Wealth LLC now owns 594 shares of the company’s stock valued at $63,000 after buying an additional 216 shares during the period. Finally, Blue Trust Inc. lifted its position in Monarch Casino & Resort by 46.4% during the third quarter. Blue Trust Inc. now owns 612 shares of the company’s stock valued at $65,000 after buying an additional 194 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Insider Activity

In related news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $100.63, for a total value of $100,630.00. Following the completion of the transaction, the chief executive officer directly owned 553,110 shares in the company, valued at approximately $55,659,459.30. This trade represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 25.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MCRI shares. Wells Fargo & Company increased their price objective on shares of Monarch Casino & Resort from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. Wall Street Zen downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Jefferies Financial Group reissued a “hold” rating and issued a $112.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Stifel Nicolaus upped their target price on Monarch Casino & Resort from $92.00 to $97.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $99.40.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI opened at $89.59 on Wednesday. The firm has a 50-day moving average of $95.38 and a two-hundred day moving average of $97.99. The stock has a market cap of $1.64 billion, a P/E ratio of 16.17 and a beta of 1.36. Monarch Casino & Resort, Inc. has a 1-year low of $69.99 and a 1-year high of $113.88.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.