OxFORD Asset Management LLP Decreases Holdings in Monarch Casino & Resort, Inc. (MCRI)

OxFORD Asset Management LLP trimmed its holdings in shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 11.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,840 shares of the company’s stock after selling 7,836 shares during the period. OxFORD Asset Management LLP owned approximately 0.36% of Monarch Casino & Resort worth $1,901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCRI. Park West Asset Management LLC lifted its stake in shares of Monarch Casino & Resort by 101.2% in the 1st quarter. Park West Asset Management LLC now owns 905,248 shares of the company’s stock valued at $26,741,000 after purchasing an additional 455,248 shares during the period. Lafitte Capital Management LP lifted its stake in shares of Monarch Casino & Resort by 14.4% in the 1st quarter. Lafitte Capital Management LP now owns 793,008 shares of the company’s stock valued at $23,425,000 after purchasing an additional 99,839 shares during the period. Wellington Management Group LLP lifted its stake in shares of Monarch Casino & Resort by 3.0% in the 1st quarter. Wellington Management Group LLP now owns 726,961 shares of the company’s stock valued at $21,474,000 after purchasing an additional 21,394 shares during the period. Vanguard Group Inc. lifted its stake in shares of Monarch Casino & Resort by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 608,959 shares of the company’s stock valued at $18,421,000 after purchasing an additional 28,267 shares during the period. Finally, Uniplan Investment Counsel Inc. lifted its stake in shares of Monarch Casino & Resort by 40.3% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 319,068 shares of the company’s stock valued at $9,651,000 after purchasing an additional 91,659 shares during the period. Institutional investors and hedge funds own 58.43% of the company’s stock.

MCRI has been the subject of several analyst reports. ValuEngine upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Stifel Nicolaus reiterated a “hold” rating and issued a $33.00 target price on shares of Monarch Casino & Resort in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, July 5th. BidaskClub cut shares of Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Imperial Capital boosted their target price on shares of Monarch Casino & Resort from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $46.60.

In other Monarch Casino & Resort news, President Bob Farahi sold 34,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $34.43, for a total value of $1,170,620.00. Following the completion of the sale, the president now owns 482,516 shares of the company’s stock, valued at $16,613,025.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 27.56% of the stock is currently owned by company insiders.

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) opened at 40.08 on Friday. The firm has a market capitalization of $704.13 million, a PE ratio of 27.14 and a beta of 1.04. Monarch Casino & Resort, Inc. has a 1-year low of $21.13 and a 1-year high of $40.30. The company has a 50 day moving average of $36.16 and a 200 day moving average of $32.04.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Monarch Casino & Resort had a net margin of 11.77% and a return on equity of 11.16%. The firm had revenue of $58.23 million for the quarter, compared to analyst estimates of $58.00 million. Analysts forecast that Monarch Casino & Resort, Inc. will post $1.52 EPS for the current year.

WARNING: This piece was reported by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://transcriptdaily.com/2017/10/08/oxford-asset-management-llp-decreases-holdings-in-monarch-casino-resort-inc-mcri.html.

Monarch Casino & Resort Profile

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 segments include Atlantis and Monarch Casino Black Hawk.

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)

Receive News & Ratings for Monarch Casino & Resort Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monarch Casino & Resort Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply