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

Tributary Capital Management LLC grew its holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,426 shares of the company’s stock after acquiring an additional 827 shares during the period. Tributary Capital Management LLC owned about 1.48% of Monarch Casino & Resort worth $18,833,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MCRI. Diversified Trust Co purchased a new stake in shares of Monarch Casino & Resort during the 1st quarter worth $203,000. ProShare Advisors LLC purchased a new stake in shares of Monarch Casino & Resort during the 1st quarter worth $204,000. Heritage Wealth Management LLC purchased a new stake in shares of Monarch Casino & Resort during the 4th quarter worth $221,000. Choate Investment Advisors purchased a new stake in shares of Monarch Casino & Resort during the 1st quarter worth $225,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Monarch Casino & Resort by 37.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,249 shares of the company’s stock worth $225,000 after purchasing an additional 882 shares during the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO John Farahi sold 2,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $68.00, for a total value of $136,000.00. Following the completion of the sale, the chief executive officer now directly owns 525,310 shares of the company’s stock, valued at $35,721,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 24.94% of the company’s stock.

Monarch Casino & Resort Stock Up 1.5 %

MCRI traded up $1.07 on Friday, reaching $74.24. The company had a trading volume of 135,879 shares, compared to its average volume of 122,222. Monarch Casino & Resort, Inc. has a 1 year low of $56.25 and a 1 year high of $80.22. The stock has a market capitalization of $1.39 billion, a PE ratio of 17.55 and a beta of 1.74. The stock has a 50-day moving average price of $70.97 and a 200-day moving average price of $69.86.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. The firm had revenue of $128.14 million during the quarter, compared to analysts’ expectations of $126.03 million. As a group, analysts expect that Monarch Casino & Resort, Inc. will post 4.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCRI. Truist Financial lifted their price objective on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Macquarie reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.