Parametric Portfolio Associates LLC Acquires 838 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

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Parametric Portfolio Associates LLC raised its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,842 shares of the company’s stock after purchasing an additional 838 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Monarch Casino & Resort were worth $1,233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MCRI. Aperio Group LLC bought a new position in Monarch Casino & Resort in the 2nd quarter valued at $59,000. KBC Group NV bought a new position in Monarch Casino & Resort in the 2nd quarter valued at $65,000. Bank of Montreal Can raised its position in Monarch Casino & Resort by 63.4% in the 2nd quarter. Bank of Montreal Can now owns 2,365 shares of the company’s stock valued at $101,000 after purchasing an additional 918 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Monarch Casino & Resort by 13.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,640 shares of the company’s stock worth $412,000 after acquiring an additional 1,110 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Monarch Casino & Resort by 1.3% during the first quarter. First Trust Advisors LP now owns 21,559 shares of the company’s stock worth $947,000 after acquiring an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 60.35% of the company’s stock.

A number of research firms have recently weighed in on MCRI. Zacks Investment Research upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Saturday. ValuEngine upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Finally, BidaskClub downgraded Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research report on Wednesday.

In other news, President Bob Farahi sold 24,340 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.08, for a total transaction of $1,097,247.20. Following the completion of the sale, the president now owns 380,066 shares in the company, valued at $17,133,375.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 26.64% of the company’s stock.

MCRI stock opened at $42.54 on Friday. The company has a market cap of $767.85 million, a P/E ratio of 23.25, a PEG ratio of 1.71 and a beta of 0.98. Monarch Casino & Resort, Inc. has a twelve month low of $34.45 and a twelve month high of $48.71. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $43.51 and a 200-day moving average of $44.02.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, July 24th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The company had revenue of $62.76 million during the quarter, compared to the consensus estimate of $61.20 million. Monarch Casino & Resort had a return on equity of 11.24% and a net margin of 14.01%. As a group, equities research analysts anticipate that Monarch Casino & Resort, Inc. will post 1.95 earnings per share for the current fiscal year.

About Monarch Casino & Resort

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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