JPMorgan Chase & Co. Reduces Holdings in Monarch Casino & Resort, Inc. $MCRI
JPMorgan Chase & Co. decreased its stake in Monarch Casino & Resort (MCRI) by 19.3% during the third quarter, holding approximately $67.985 million worth of stock.Summary
JPMorgan Chase & Co. reduced its ownership in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 19.3% in the third quarter, according to a recent SEC filing. This move resulted in the fund owning 642,334 shares, valued at approximately $67.985 million. Other institutional investors have also been actively trading MCRI stock, with American Century Companies Inc. increasing its stake and Assenagon Asset Management S.A. significantly lifting its holdings.
Monarch Casino & Resort’s stock opened at $97.60 on Friday, with a market capitalization of $1.75 billion. The company recently reported earnings of $1.25 per share, slightly missing analyst expectations, but revenue met estimates at $140.00 million.
Monarch Casino & Resort also announced a quarterly dividend of $0.30 per share, paid to stockholders of record on March 2nd. Analysts have offered varied ratings, with a consensus of “Moderate Buy” and an average price target of $99.80. The company operates the Atlantis Casino Resort Spa in Reno, Nevada, generating revenue from gaming, hotel accommodations, and related services.
(Source：Markets Daily)