Bank of New York Mellon Corp Sells 19,175 Shares of Monarch Casino & Resort, Inc. (MCRI)

Bank of New York Mellon Corp cut its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 12.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 135,307 shares of the company’s stock after selling 19,175 shares during the quarter. Bank of New York Mellon Corp’s holdings in Monarch Casino & Resort were worth $6,064,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its holdings in Monarch Casino & Resort by 14.2% in the fourth quarter. First Trust Advisors LP now owns 10,141 shares of the company’s stock valued at $455,000 after purchasing an additional 1,258 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in Monarch Casino & Resort by 29.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,730 shares of the company’s stock valued at $266,000 after purchasing an additional 1,540 shares during the period. Wells Fargo & Company MN boosted its holdings in Monarch Casino & Resort by 3.4% in the fourth quarter. Wells Fargo & Company MN now owns 51,425 shares of the company’s stock valued at $2,305,000 after purchasing an additional 1,671 shares during the period. LS Investment Advisors LLC purchased a new position in Monarch Casino & Resort in the fourth quarter valued at $100,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Monarch Casino & Resort by 74.1% in the third quarter. BNP Paribas Arbitrage SA now owns 5,662 shares of the company’s stock valued at $224,000 after purchasing an additional 2,409 shares during the period. Hedge funds and other institutional investors own 60.84% of the company’s stock.

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In other Monarch Casino & Resort news, Director Craig F. Sullivan sold 3,000 shares of Monarch Casino & Resort stock in a transaction dated Saturday, October 27th. The stock was sold at an average price of $43.75, for a total transaction of $131,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Farahi sold 14,519 shares of Monarch Casino & Resort stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $46.27, for a total value of $671,794.13. Following the sale, the chief executive officer now directly owns 1,763,340 shares of the company’s stock, valued at $81,589,741.80. The disclosure for this sale can be found here. Insiders have sold a total of 22,942 shares of company stock valued at $979,687 over the last ninety days. 27.56% of the stock is owned by company insiders.

Shares of NASDAQ MCRI opened at $41.26 on Friday. The stock has a market cap of $742.29, a price-to-earnings ratio of 28.07 and a beta of 1.24. The company has a quick ratio of 1.08, a current ratio of 1.17 and a debt-to-equity ratio of 0.10. Monarch Casino & Resort, Inc. has a 1 year low of $28.47 and a 1 year high of $47.92.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.10). The business had revenue of $56.06 million for the quarter, compared to analysts’ expectations of $57.95 million. Monarch Casino & Resort had a return on equity of 10.65% and a net margin of 11.07%. equities research analysts expect that Monarch Casino & Resort, Inc. will post 1.84 EPS for the current fiscal year.

A number of brokerages have issued reports on MCRI. Zacks Investment Research downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. BidaskClub downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. ValuEngine raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Jefferies Group began coverage on Monarch Casino & Resort in a report on Thursday, January 18th. They set an “underperform” rating and a $39.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $50.80.

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About Monarch Casino & Resort

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.

Want to see what other hedge funds are holding MCRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monarch Casino & Resort, Inc. (NASDAQ:MCRI).

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

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