BlackRock Inc. Makes New Investment in Monarch Casino & Resort, Inc. $MCRI
BlackRock Inc. acquired a $270.68 million stake in Monarch Casino & Resort, Inc., while analysts maintain a consensus 'Hold' rating.Summary
BlackRock Inc. has significantly increased its position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by purchasing approximately 2.06 million shares valued at around $270.68 million. This investment represents a 0.11% ownership stake in the company. Concurrently, other institutional investors have also adjusted their holdings, with Osaic Holdings Inc. raising its position by 210.0% and several others, including Kestra Advisory Services and Global Retirement Partners, acquiring new stakes. Wall Street analysts currently maintain a consensus rating of "Hold" for MCRI, with an average price target of $124.40. The company recently reported strong earnings, beating estimates with EPS of $1.78, and announced a quarterly dividend of $0.30 per share. Monarch Casino & Resort operates an integrated casino resort in Reno, Nevada, with diversified revenue streams including gaming, hotel, and food and beverage services.
(Source：Ticker Report)