BlackRock Inc. Cuts Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

BlackRock Inc. trimmed its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,019,856 shares of the company’s stock after selling 64,794 shares during the quarter. BlackRock Inc. owned 0.11% of Monarch Casino & Resort worth $133,655,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Lord Abbett & CO. LLC raised its holdings in shares of Monarch Casino & Resort by 2.8% during the second quarter. Lord Abbett & CO. LLC now owns 156,229 shares of the company’s stock valued at $10,338,000 after buying an additional 4,229 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of Monarch Casino & Resort in the second quarter valued at $163,000. Principal Financial Group Inc. increased its holdings in shares of Monarch Casino & Resort by 1.2% in the second quarter. Principal Financial Group Inc. now owns 89,725 shares of the company’s stock valued at $5,937,000 after buying an additional 1,077 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Monarch Casino & Resort by 24.6% in the second quarter. BNP Paribas Arbitrage SA now owns 4,566 shares of the company’s stock valued at $302,000 after buying an additional 902 shares in the last quarter. Finally, Citigroup Inc. grew its position in Monarch Casino & Resort by 139.9% during the 2nd quarter. Citigroup Inc. now owns 8,204 shares of the company’s stock worth $543,000 after purchasing an additional 4,784 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Separately, Zacks Investment Research cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Wednesday, September 29th.

Shares of MCRI opened at $66.74 on Thursday. The firm has a market capitalization of $1.24 billion, a P/E ratio of 24.54 and a beta of 1.77. The company has a 50-day simple moving average of $65.98 and a 200-day simple moving average of $66.76. Monarch Casino & Resort, Inc. has a 52 week low of $40.19 and a 52 week high of $76.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.61.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Tuesday, July 27th. The company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.27. The company had revenue of $97.72 million for the quarter, compared to analyst estimates of $79.43 million. Monarch Casino & Resort had a net margin of 17.98% and a return on equity of 13.93%. As a group, equities analysts forecast that Monarch Casino & Resort, Inc. will post 3.27 earnings per share for the current year.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc owns and operates the Atlantis Casino Resort Spa, a hotel & casino facility in Reno, Nevada and the Monarch Black Hawk Casino in Black Hawk, Colorado. The Atlantis features casino space; guest rooms; food outlets; espresso and pastry bars; health spa and salon; retail outlets offering clothing and traditional gift shop merchandise; family entertainment centre; banquet, convention and meeting room space.

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

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