Monarch Casino & Resort, Inc. (MCRI) Shares Sold by Morgan Dempsey Capital Management LLC

Morgan Dempsey Capital Management LLC lowered its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,530 shares of the company’s stock after selling 1,316 shares during the period. Morgan Dempsey Capital Management LLC owned 0.35% of Monarch Casino & Resort worth $1,861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Park West Asset Management LLC raised its position in Monarch Casino & Resort by 101.2% in the first quarter. Park West Asset Management LLC now owns 905,248 shares of the company’s stock valued at $26,741,000 after buying an additional 455,248 shares during the period. Lafitte Capital Management LP raised its position in Monarch Casino & Resort by 14.4% in the first quarter. Lafitte Capital Management LP now owns 793,008 shares of the company’s stock valued at $23,425,000 after buying an additional 99,839 shares during the period. Wellington Management Group LLP raised its position in Monarch Casino & Resort by 3.0% in the first quarter. Wellington Management Group LLP now owns 726,961 shares of the company’s stock valued at $21,474,000 after buying an additional 21,394 shares during the period. Vanguard Group Inc. raised its position in Monarch Casino & Resort by 10.4% in the first quarter. Vanguard Group Inc. now owns 580,692 shares of the company’s stock valued at $17,153,000 after buying an additional 54,762 shares during the period. Finally, State Street Corp raised its position in Monarch Casino & Resort by 10.4% in the fourth quarter. State Street Corp now owns 265,108 shares of the company’s stock valued at $6,838,000 after buying an additional 24,905 shares during the period. 55.95% of the stock is owned by institutional investors and hedge funds.

Shares of Monarch Casino & Resort, Inc. (MCRI) traded down 0.58% during midday trading on Friday, reaching $34.13. 56,461 shares of the company’s stock were exchanged. The stock has a market cap of $599.60 million, a price-to-earnings ratio of 23.11 and a beta of 1.06. Monarch Casino & Resort, Inc. has a one year low of $21.13 and a one year high of $35.40. The firm has a 50 day moving average of $32.10 and a 200-day moving average of $29.50.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Tuesday, July 25th. The company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. The business had revenue of $58.23 million during the quarter, compared to analysts’ expectations of $58 million. Monarch Casino & Resort had a net margin of 11.77% and a return on equity of 11.16%. On average, equities research analysts anticipate that Monarch Casino & Resort, Inc. will post $1.51 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This report was first posted by BNB Daily and is the property of of BNB Daily. If you are accessing this report on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this report can be accessed at https://www.baseball-news-blog.com/2017/08/19/morgan-dempsey-capital-management-llc-cuts-position-in-monarch-casino-resort-inc-mcri-updated.html.

Several analysts have recently commented on the company. BidaskClub upgraded Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Imperial Capital lifted their price target on Monarch Casino & Resort from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Stifel Nicolaus reiterated a “hold” rating and set a $33.00 price target on shares of Monarch Casino & Resort in a research note on Friday, July 28th. Zacks Investment Research upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Friday, July 28th. Finally, Deutsche Bank AG boosted their target price on Monarch Casino & Resort from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Monarch Casino & Resort presently has a consensus rating of “Hold” and an average target price of $46.60.

In other news, President Bob Farahi sold 34,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $34.43, for a total value of $1,170,620.00. Following the completion of the sale, the president now directly owns 482,516 shares in the company, valued at $16,613,025.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 27.56% of the stock is owned by corporate insiders.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

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

Receive News & Ratings for Monarch Casino & Resort Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monarch Casino & Resort Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply