Principal Financial Group Inc. Has $3.66 Million Stake in Monarch Casino & Resort, Inc. (MCRI)

Principal Financial Group Inc. decreased its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,880 shares of the company’s stock after selling 3,187 shares during the period. Principal Financial Group Inc.’s holdings in Monarch Casino & Resort were worth $3,657,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund bought a new position in Monarch Casino & Resort during the fourth quarter worth about $171,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Monarch Casino & Resort by 11.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 6,255 shares of the company’s stock worth $238,000 after purchasing an additional 652 shares during the period. Texas Permanent School Fund grew its holdings in Monarch Casino & Resort by 4.1% during the fourth quarter. Texas Permanent School Fund now owns 7,728 shares of the company’s stock worth $295,000 after purchasing an additional 301 shares during the period. Virginia Retirement Systems ET AL bought a new position in Monarch Casino & Resort during the fourth quarter worth about $320,000. Finally, MetLife Investment Advisors LLC grew its holdings in Monarch Casino & Resort by 59.9% during the third quarter. MetLife Investment Advisors LLC now owns 8,417 shares of the company’s stock worth $383,000 after purchasing an additional 3,152 shares during the period. Institutional investors and hedge funds own 60.94% of the company’s stock.

Shares of NASDAQ:MCRI opened at $46.30 on Wednesday. Monarch Casino & Resort, Inc. has a 12-month low of $34.45 and a 12-month high of $49.63. The company has a market cap of $831.44 million, a PE ratio of 25.30, a PEG ratio of 1.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.79 and a quick ratio of 0.72.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, February 20th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Monarch Casino & Resort had a net margin of 14.19% and a return on equity of 11.92%. The business had revenue of $59.78 million during the quarter, compared to analyst estimates of $56.40 million. As a group, sell-side analysts predict that Monarch Casino & Resort, Inc. will post 2.08 earnings per share for the current fiscal year.

A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded Monarch Casino & Resort from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Citigroup cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. They noted that the move was a valuation call. Finally, ValuEngine upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Tuesday, December 18th. Six analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus target price of $50.00.

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About Monarch Casino & Resort

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

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