GHP Investment Advisors Inc. Invests $600,000 in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

GHP Investment Advisors Inc. bought a new stake in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) in the 4th quarter, Holdings Channel.com reports. The firm bought 7,608 shares of the company’s stock, valued at approximately $600,000.

A number of other hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new stake in Monarch Casino & Resort in the 3rd quarter valued at about $30,000. GAMMA Investing LLC lifted its stake in Monarch Casino & Resort by 61.0% during the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after purchasing an additional 178 shares during the last quarter. KBC Group NV boosted its holdings in Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock worth $77,000 after buying an additional 396 shares in the last quarter. Independence Bank of Kentucky acquired a new position in Monarch Casino & Resort in the fourth quarter worth approximately $93,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Monarch Casino & Resort by 30.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock valued at $134,000 after buying an additional 400 shares in the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI opened at $85.91 on Friday. The stock has a market cap of $1.58 billion, a PE ratio of 19.01 and a beta of 1.74. Monarch Casino & Resort, Inc. has a fifty-two week low of $64.50 and a fifty-two week high of $89.06. The stock’s 50-day moving average is $82.57 and its two-hundred day moving average is $79.02.

Insider Buying and Selling

In related news, CEO John Farahi sold 1,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the sale, the chief executive officer now directly owns 528,436 shares in the company, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 24.94% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MCRI shares. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and lifted their target price for the stock from $82.00 to $100.00 in a report on Tuesday, January 14th. Stifel Nicolaus lifted their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company began coverage on shares of Monarch Casino & Resort in a report on Monday, December 16th. They set an “underweight” rating and a $79.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $84.00.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.