Plaisance Capital LLC Lowers Position in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

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Plaisance Capital LLC lessened its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 82.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,150 shares of the company’s stock after selling 52,550 shares during the quarter. Monarch Casino & Resort makes up about 0.4% of Plaisance Capital LLC’s holdings, making the stock its 29th largest position. Plaisance Capital LLC owned approximately 0.06% of Monarch Casino & Resort worth $380,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Two Sigma Investments LP bought a new stake in Monarch Casino & Resort during the first quarter worth $1,526,000. Thrivent Financial for Lutherans raised its holdings in shares of Monarch Casino & Resort by 5.3% in the first quarter. Thrivent Financial for Lutherans now owns 10,002 shares of the company’s stock valued at $281,000 after purchasing an additional 499 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Monarch Casino & Resort by 42.9% during the first quarter. BNP Paribas Arbitrage SA now owns 4,570 shares of the company’s stock valued at $128,000 after purchasing an additional 1,373 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Monarch Casino & Resort by 27.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 22,926 shares of the company’s stock worth $781,000 after purchasing an additional 4,875 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Monarch Casino & Resort by 30.3% during the first quarter. Wellington Management Group LLP now owns 582,197 shares of the company’s stock worth $16,342,000 after purchasing an additional 135,285 shares during the last quarter. 61.88% of the stock is currently owned by institutional investors.

Shares of MCRI traded up $0.25 during trading hours on Friday, reaching $46.29. 57,030 shares of the company’s stock traded hands, compared to its average volume of 73,314. The firm’s 50 day simple moving average is $40.71 and its 200-day simple moving average is $35.69. Monarch Casino & Resort, Inc. has a 12 month low of $12.83 and a 12 month high of $57.57. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.53. The stock has a market cap of $842.02 million, a PE ratio of 66.13 and a beta of 1.61.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.39. Monarch Casino & Resort had a net margin of 6.81% and a return on equity of 5.25%. The company had revenue of $15.16 million for the quarter, compared to the consensus estimate of $11.27 million. As a group, analysts expect that Monarch Casino & Resort, Inc. will post 0.22 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on MCRI. BidaskClub upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. SunTrust Banks assumed coverage on shares of Monarch Casino & Resort in a research report on Wednesday, May 27th. They set a “buy” rating and a $50.00 price target for the company. ValuEngine raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Friday, July 3rd. Finally, Zacks Investment Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, July 28th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $45.80.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of February 20, 2019, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.

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

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