Northern Trust Corp Bought 11,408 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Northern Trust Corp Bought 11,408 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Northern Trust Corp raised its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 6.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,079 shares of the company’s stock after purchasing an additional 11,408 shares during the period. Northern Trust Corp owned 1.12% of Monarch Casino & Resort worth $8,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Monarch Casino & Resort by 6.5% during the 2nd quarter. BlackRock Inc. now owns 1,654,865 shares of the company’s stock worth $72,898,000 after purchasing an additional 101,600 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Monarch Casino & Resort by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 88,992 shares of the company’s stock worth $3,763,000 after acquiring an additional 2,237 shares during the period. Argent Capital Management LLC lifted its stake in shares of Monarch Casino & Resort by 15.4% in the 2nd quarter. Argent Capital Management LLC now owns 64,937 shares of the company’s stock worth $2,860,000 after acquiring an additional 8,660 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Monarch Casino & Resort by 8.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 57,225 shares of the company’s stock worth $2,521,000 after acquiring an additional 4,219 shares during the period. Finally, Whittier Trust Co. lifted its stake in shares of Monarch Casino & Resort by 6.5% in the 2nd quarter. Whittier Trust Co. now owns 48,591 shares of the company’s stock worth $2,140,000 after acquiring an additional 2,953 shares during the period. 60.34% of the stock is currently owned by institutional investors.

NASDAQ:MCRI traded down $1.42 during mid-day trading on Wednesday, hitting $39.30. 55,585 shares of the company’s stock traded hands, compared to its average volume of 52,170. The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 0.24. Monarch Casino & Resort, Inc. has a 1 year low of $37.05 and a 1 year high of $49.63. The company has a market capitalization of $715.76 million, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.28.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, October 24th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Monarch Casino & Resort had a net margin of 13.20% and a return on equity of 11.79%. The firm had revenue of $64.36 million during the quarter, compared to the consensus estimate of $65.15 million. On average, equities research analysts predict that Monarch Casino & Resort, Inc. will post 1.86 earnings per share for the current year.

In other news, President Bob Farahi purchased 8,000 shares of the stock in a transaction dated Friday, September 7th. The stock was acquired at an average cost of $44.84 per share, for a total transaction of $358,720.00. Following the completion of the acquisition, the president now directly owns 419,408 shares in the company, valued at approximately $18,806,254.72. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 26.24% of the company’s stock.

MCRI has been the subject of several recent analyst reports. BidaskClub upgraded shares of Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. ValuEngine cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Monarch Casino & Resort currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of March 5, 2018, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.

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