Monarch Casino & Resort, Inc. $MCRI Shares Acquired by Morgan Dempsey Capital Management LLC

Morgan Dempsey Capital Management LLC grew its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 19.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,660 shares of the company’s stock after acquiring an additional 267 shares during the quarter. Morgan Dempsey Capital Management LLC’s holdings in Monarch Casino & Resort were worth $143,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MCRI. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Monarch Casino & Resort in the second quarter valued at approximately $2,252,000. Ritholtz Wealth Management boosted its holdings in shares of Monarch Casino & Resort by 56.5% in the 2nd quarter. Ritholtz Wealth Management now owns 31,529 shares of the company’s stock valued at $2,725,000 after buying an additional 11,389 shares in the last quarter. Yousif Capital Management LLC purchased a new position in shares of Monarch Casino & Resort in the 2nd quarter valued at $212,000. State of Alaska Department of Revenue raised its stake in Monarch Casino & Resort by 7.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,576 shares of the company’s stock worth $654,000 after acquiring an additional 527 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Monarch Casino & Resort by 28.7% during the 2nd quarter. GAMMA Investing LLC now owns 839 shares of the company’s stock worth $73,000 after acquiring an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Insider Buying and Selling at Monarch Casino & Resort

In other news, Director Craig F. Sullivan sold 12,200 shares of Monarch Casino & Resort stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $105.55, for a total value of $1,287,710.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John Farahi sold 2,000 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $105.78, for a total transaction of $211,560.00. Following the transaction, the chief executive officer owned 560,110 shares in the company, valued at approximately $59,248,435.80. This trade represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 25.52% of the company’s stock.

Wall Street Analyst Weigh In

MCRI has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Monarch Casino & Resort in a research note on Tuesday, October 14th. Wall Street Zen upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Sunday, July 13th. Wells Fargo & Company raised Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $83.00 to $89.00 in a research report on Thursday, July 17th. Zacks Research downgraded Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Finally, Truist Financial raised their target price on shares of Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Monarch Casino & Resort currently has an average rating of “Hold” and a consensus price target of $93.20.

Monarch Casino & Resort Trading Down 0.1%

Monarch Casino & Resort stock opened at $94.58 on Friday. The stock has a 50 day moving average of $101.70 and a two-hundred day moving average of $91.18. Monarch Casino & Resort, Inc. has a twelve month low of $69.99 and a twelve month high of $113.88. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 17.78 and a beta of 1.49.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.22. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%.The business had revenue of $136.91 million for the quarter, compared to analyst estimates of $129.76 million. Equities analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Company 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.