Schwab Charles Investment Management Inc. maintained its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,800 shares of the company’s stock at the end of the second quarter. Schwab Charles Investment Management Inc. owned about 0.15% of Monarch Casino & Resort worth $781,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Monarch Casino & Resort by 10.4% during the first quarter. Vanguard Group Inc. now owns 580,692 shares of the company’s stock worth $17,153,000 after purchasing an additional 54,762 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Monarch Casino & Resort by 4.1% during the first quarter. Principal Financial Group Inc. now owns 85,910 shares of the company’s stock worth $2,538,000 after purchasing an additional 3,398 shares during the period. Texas Permanent School Fund increased its holdings in shares of Monarch Casino & Resort by 1.1% during the second quarter. Texas Permanent School Fund now owns 8,052 shares of the company’s stock worth $244,000 after purchasing an additional 84 shares during the period. Geode Capital Management LLC increased its holdings in shares of Monarch Casino & Resort by 6.3% during the first quarter. Geode Capital Management LLC now owns 95,134 shares of the company’s stock worth $2,810,000 after purchasing an additional 5,677 shares during the period. Finally, Capital One National Association increased its holdings in shares of Monarch Casino & Resort by 0.8% during the second quarter. Capital One National Association now owns 17,880 shares of the company’s stock worth $541,000 after purchasing an additional 140 shares during the period. 58.43% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. Monarch Casino & Resort had a net margin of 11.99% and a return on equity of 11.25%. The company had revenue of $63.03 million for the quarter, compared to analyst estimates of $60.05 million.

In related news, major shareholder Ben Farahi sold 18,600 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $43.76, for a total transaction of $813,936.00. Following the sale, the insider now owns 1,107,172 shares of the company’s stock, valued at approximately $48,449,846.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Bob Farahi sold 34,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $34.43, for a total transaction of $1,170,620.00. Following the sale, the president now directly owns 482,516 shares in the company, valued at approximately $16,613,025.88. The disclosure for this sale can be found here. In the last three months, insiders sold 87,600 shares of company stock worth $3,489,206. Insiders own 27.56% of the company’s stock.

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Several research analysts have recently commented on MCRI shares. Zacks Investment Research cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub cut shares of Monarch Casino & Resort from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. ValuEngine cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $33.00 target price on shares of Monarch Casino & Resort in a report on Friday, July 28th. Finally, Imperial Capital raised their target price on shares of Monarch Casino & Resort from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $53.25.

Monarch Casino & Resort Profile

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

Institutional Ownership by Quarter for Monarch Casino & Resort (NASDAQ:MCRI)

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