Tributary Capital Management LLC Sells 1,220 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Tributary Capital Management LLC reduced its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 0.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 275,599 shares of the company’s stock after selling 1,220 shares during the period. Monarch Casino & Resort comprises 1.7% of Tributary Capital Management LLC’s portfolio, making the stock its 25th biggest position. Tributary Capital Management LLC owned about 1.46% of Monarch Casino & Resort worth $20,667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Diversified Trust Co bought a new stake in shares of Monarch Casino & Resort during the 1st quarter worth approximately $203,000. Annex Advisory Services LLC lifted its stake in shares of Monarch Casino & Resort by 9.2% during the 1st quarter. Annex Advisory Services LLC now owns 14,078 shares of the company’s stock worth $1,056,000 after acquiring an additional 1,189 shares during the last quarter. Eagle Asset Management Inc. raised its position in Monarch Casino & Resort by 9.3% during the 4th quarter. Eagle Asset Management Inc. now owns 81,252 shares of the company’s stock valued at $5,619,000 after purchasing an additional 6,882 shares in the last quarter. Trexquant Investment LP raised its position in Monarch Casino & Resort by 25.4% during the 4th quarter. Trexquant Investment LP now owns 18,531 shares of the company’s stock valued at $1,281,000 after purchasing an additional 3,752 shares in the last quarter. Finally, Heritage Wealth Management LLC bought a new stake in Monarch Casino & Resort during the 4th quarter valued at $221,000. 62.37% of the stock is owned by institutional investors.

Insider Transactions at Monarch Casino & Resort

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

Monarch Casino & Resort Trading Down 2.6 %

Shares of MCRI traded down $1.76 during trading hours on Monday, hitting $66.37. The company had a trading volume of 106,358 shares, compared to its average volume of 127,825. The company has a market capitalization of $1.24 billion, a PE ratio of 15.69 and a beta of 1.74. Monarch Casino & Resort, Inc. has a one year low of $56.25 and a one year high of $75.40. The company’s fifty day moving average price is $67.51 and its two-hundred day moving average price is $68.84.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, April 17th. The company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.05). The company had revenue of $121.66 million during the quarter, compared to the consensus estimate of $122.13 million. Monarch Casino & Resort had a return on equity of 17.13% and a net margin of 16.40%. Analysts forecast that Monarch Casino & Resort, Inc. will post 4.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on MCRI. StockNews.com raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Macquarie lifted their target price on Monarch Casino & Resort from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th.

About Monarch Casino & Resort

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.