Alambic Investment Management L.P. cut its position in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 8.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,200 shares of the company’s stock after selling 2,800 shares during the period. Alambic Investment Management L.P. owned approximately 0.18% of Monarch Casino & Resort worth $760,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. California State Teachers Retirement System increased its position in Monarch Casino & Resort by 3.5% in the second quarter. California State Teachers Retirement System now owns 22,266 shares of the company’s stock worth $489,000 after buying an additional 757 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in Monarch Casino & Resort during the second quarter worth approximately $393,000. Principal Financial Group Inc. increased its position in Monarch Casino & Resort by 4.2% in the second quarter. Principal Financial Group Inc. now owns 77,294 shares of the company’s stock worth $1,698,000 after buying an additional 3,131 shares during the last quarter. Vanguard Group Inc. increased its position in Monarch Casino & Resort by 6.9% in the second quarter. Vanguard Group Inc. now owns 463,968 shares of the company’s stock worth $10,193,000 after buying an additional 30,137 shares during the last quarter. Finally, BlackRock Investment Management LLC increased its position in Monarch Casino & Resort by 9.6% in the second quarter. BlackRock Investment Management LLC now owns 52,647 shares of the company’s stock worth $1,157,000 after buying an additional 4,633 shares during the last quarter. 55.64% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) traded up 2.53% during midday trading on Friday, hitting $25.08. 59,720 shares of the company were exchanged. Monarch Casino & Resort, Inc. has a one year low of $17.29 and a one year high of $27.46. The company has a market capitalization of $435.59 million, a P/E ratio of 19.00 and a beta of 0.97. The company has a 50-day moving average of $25.62 and a 200 day moving average of $24.03.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Tuesday, October 25th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.07. Monarch Casino & Resort had a net margin of 10.91% and a return on equity of 10.88%. On average, equities research analysts expect that Monarch Casino & Resort, Inc. will post $1.36 earnings per share for the current fiscal year.

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A number of research firms have recently commented on MCRI. Zacks Investment Research raised shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Wednesday, January 4th. Gabelli began coverage on shares of Monarch Casino & Resort in a report on Friday, October 14th. They set a “hold” rating and a $27.00 price objective for the company.

In other Monarch Casino & Resort news, COO David-Jacques Farahi sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $24.76, for a total value of $123,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 27.91% of the company’s stock.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s operating segments include Atlantis and Monarch Casino Black Hawk.

5 Day Chart for NASDAQ:MCRI

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