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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) saw a significant increase in short interest during the month of 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. Approximately 1.6% of the shares of the stock are short sold. Based on an average trading volume of 113,700 shares, the short-interest ratio is presently 1.7 days.

Hedge Funds Weigh In On Monarch Casino & Resort

Several hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. grew its stake in shares of Monarch Casino & Resort by 7.3% in the 3rd quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock worth $665,000 after purchasing an additional 597 shares during the last quarter. Barclays PLC grew its stake in shares of Monarch Casino & Resort by 108.2% in the 3rd quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after purchasing an additional 17,413 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Monarch Casino & Resort by 518.8% in the 3rd quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock worth $9,280,000 after purchasing an additional 98,153 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Monarch Casino & Resort by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after purchasing an additional 8,283 shares during the last quarter. Finally, Weiss Asset Management LP grew its stake in shares of Monarch Casino & Resort by 1,289.7% in the 3rd quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock worth $6,279,000 after purchasing an additional 73,512 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

MCRI traded up $0.69 during trading hours on Monday, reaching $84.70. 24,334 shares of the stock traded hands, compared to its average volume of 119,359. The firm’s fifty day simple moving average is $79.58 and its two-hundred day simple moving average is $73.95. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 18.65 and a beta of 1.73. Monarch Casino & Resort has a fifty-two week low of $62.93 and a fifty-two week high of $86.68.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Finally, StockNews.com upgraded shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

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.