Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Shares Bought by Brasada Capital Management LP

Brasada Capital Management LP raised its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 20.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,262 shares of the company’s stock after acquiring an additional 17,309 shares during the quarter. Monarch Casino & Resort makes up 1.3% of Brasada Capital Management LP’s investment portfolio, making the stock its 27th largest position. Brasada Capital Management LP owned approximately 0.58% of Monarch Casino & Resort worth $4,693,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its holdings in Monarch Casino & Resort by 8.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 57,225 shares of the company’s stock valued at $2,521,000 after acquiring an additional 4,219 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Monarch Casino & Resort by 6.5% during the 2nd quarter. Whittier Trust Co. now owns 48,591 shares of the company’s stock worth $2,140,000 after purchasing an additional 2,953 shares during the last quarter. TD Asset Management Inc. acquired a new stake in shares of Monarch Casino & Resort during the 2nd quarter worth about $203,000. BlackRock Inc. boosted its stake in shares of Monarch Casino & Resort by 6.5% during the 2nd quarter. BlackRock Inc. now owns 1,654,865 shares of the company’s stock worth $72,898,000 after purchasing an additional 101,600 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Monarch Casino & Resort by 6.0% during the 2nd quarter. Northern Trust Corp now owns 200,079 shares of the company’s stock worth $8,815,000 after purchasing an additional 11,408 shares during the last quarter. Hedge funds and other institutional investors own 60.34% of the company’s stock.

Several equities research analysts have issued reports on MCRI shares. BidaskClub raised shares of Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. ValuEngine cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Monarch Casino & Resort currently has a consensus rating of “Hold” and an average target price of $50.00.



In other news, President Bob Farahi acquired 8,000 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were bought at an average price of $44.84 per share, for a total transaction of $358,720.00. Following the completion of the purchase, the president now directly owns 419,408 shares of the company’s stock, valued at approximately $18,806,254.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 26.24% of the company’s stock.

NASDAQ MCRI traded up $0.86 during mid-day trading on Thursday, hitting $40.16. The company’s stock had a trading volume of 58,685 shares, compared to its average volume of 59,834. Monarch Casino & Resort, Inc. has a 52-week low of $37.05 and a 52-week high of $49.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.72 and a current ratio of 0.78. The firm has a market capitalization of $703.24 million, a price-to-earnings ratio of 27.32, a PEG ratio of 1.69 and a beta of 1.28.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 24th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Monarch Casino & Resort had a net margin of 13.20% and a return on equity of 11.79%. The firm had revenue of $64.36 million for the quarter, compared to analyst estimates of $65.15 million. Sell-side analysts forecast that Monarch Casino & Resort, Inc. will post 1.86 EPS for the current fiscal year.

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Monarch Casino & Resort 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 March 5, 2018, 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.

Further Reading: Growth Stocks

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

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