Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Stake Cut by Tributary Capital Management LLC

Tributary Capital Management LLC lessened its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,836 shares of the company’s stock after selling 315 shares during the quarter. Monarch Casino & Resort makes up 1.7% of Tributary Capital Management LLC’s investment portfolio, making the stock its 26th largest holding. Tributary Capital Management LLC owned 1.49% of Monarch Casino & Resort worth $21,685,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its position in Monarch Casino & Resort by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company’s stock valued at $785,000 after purchasing an additional 250 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Monarch Casino & Resort by 30.9% during the 4th 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 during the period. Annex Advisory Services LLC grew its holdings in shares of Monarch Casino & Resort by 28.5% during the 4th quarter. Annex Advisory Services LLC now owns 15,953 shares of the company’s stock valued at $1,259,000 after acquiring an additional 3,541 shares in the last quarter. Ritholtz Wealth Management acquired a new position in shares of Monarch Casino & Resort in the fourth quarter worth $254,000. Finally, Heritage Family Offices LLP raised its holdings in shares of Monarch Casino & Resort by 7.0% during the fourth quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock worth $236,000 after acquiring an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MCRI. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Jefferies Financial Group lifted 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. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Wells Fargo & Company assumed coverage on shares of Monarch Casino & Resort in a research report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target on the stock. Finally, Truist Financial upgraded shares of 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $84.00.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock opened at $84.03 on Friday. Monarch Casino & Resort, Inc. has a 52-week low of $64.50 and a 52-week high of $89.06. The firm has a market capitalization of $1.55 billion, a PE ratio of 18.59 and a beta of 1.73. The company’s fifty day moving average price is $82.28 and its two-hundred day moving average price is $77.97.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The firm had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. During the same quarter in the prior year, the business posted $1.38 earnings per share. Analysts predict that Monarch Casino & Resort, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Monarch Casino & Resort 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 transaction, the chief executive officer now directly owns 528,436 shares in the company, valued at $41,059,477.20. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 24.94% of the stock is owned by corporate insiders.

Monarch Casino & Resort 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.