Monarch Casino & Resort, Inc. $MCRI Holdings Reduced by JPMorgan Chase & Co.
JPMorgan Chase & Co. decreased its stake in Monarch Casino & Resort, Inc. by 19.3% during the third quarter, while other investors adjusted their positions.Summary
JPMorgan Chase & Co. reduced its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 19.3% during the third quarter, selling 153,728 shares and owning approximately 3.52% of the company, valued at $67,985,000. Other institutional investors, including American Century Companies Inc. and Assenagon Asset Management S.A., also made adjustments to their stakes in Monarch Casino & Resort. CEO John Farahi sold 1,000 shares of his own stock. The company’s stock opened at $95.69 on Wednesday, with a market capitalization of $1.75 billion. Recent quarterly earnings were $1.25 per share, missing estimates, and a quarterly dividend of $0.30 per share was announced. Analysts offer a "Moderate Buy" consensus rating with a target price of $99.80.
(Source：The Lincolnian Online)