Tributary Capital Management LLC Sells 315 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Tributary Capital Management LLC cut its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,836 shares of the company’s stock after selling 315 shares during the period. Monarch Casino & Resort comprises approximately 1.7% of Tributary Capital Management LLC’s holdings, making the stock its 26th largest holding. Tributary Capital Management LLC’s holdings in Monarch Casino & Resort were worth $21,685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its holdings in shares of Monarch Casino & Resort by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company’s stock worth $785,000 after purchasing an additional 250 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Monarch Casino & Resort by 30.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after buying an additional 400 shares in the last quarter. Annex Advisory Services LLC grew its holdings in Monarch Casino & Resort by 28.5% during the 4th quarter. Annex Advisory Services LLC now owns 15,953 shares of the company’s stock worth $1,259,000 after acquiring an additional 3,541 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in Monarch Casino & Resort in the 4th quarter valued at about $254,000. Finally, Heritage Family Offices LLP raised its stake in shares of Monarch Casino & Resort by 7.0% in the fourth quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock worth $236,000 after acquiring an additional 196 shares during the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the sale, the chief executive officer now directly owns 528,436 shares in the company, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 24.94% of the stock is owned by corporate insiders.

Monarch Casino & Resort Trading Up 0.2 %

Monarch Casino & Resort stock opened at $84.03 on Friday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 18.59 and a beta of 1.73. The business has a 50-day moving average of $82.28 and a 200-day moving average of $77.97. Monarch Casino & Resort, Inc. has a 1 year low of $64.50 and a 1 year high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.37 by $0.10. The firm had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same quarter in the prior year, the firm earned $1.38 earnings per share. Research analysts anticipate that Monarch Casino & Resort, Inc. will post 4.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on MCRI shares. Jefferies Financial Group raised their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday, January 3rd. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their target price for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus boosted their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company assumed coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They issued an “underweight” rating and a $79.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $84.00.

About Monarch Casino & Resort

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.