A worsening of big money sentiment for Monarch Casino & Resort Inc. (NASDAQ MCRI) in the last quarter of 2018 indicates a change in investors’ equity position. The SEC reports a net change of -0.37 from Q3. The stock was sold off as positions in funds decreased.
Monarch Casino & Resort has multiple subsidiaries including Atlantis Casino Resort Spa in Reno and Monarch Casino Black Hawk in Colorado. Information and industry news is available on Seekingalpha.com, Investorplace.com, Investorplace.com, Marketwired.com or Globenewswire.com
Given the major holdings of the stock in funds (10.77 million shares), this is significant news for the hospitality industry. There were of course new purchases, but also some closed and reduced positions. Among the top funds are Lafitte Capital Management, Park West Asset Management, Venator Capital Management and Morgan Dempsey Capital Management. Both venues have expanded accommodations and facilities with more table games, poker rooms, roulette, a race and sports book and keno lounge.
The stock has been hovering around $43, underperforming the S&P 500 by .7%. Volume is up 3.67% since March of 2018. Quarterly earnings will come in this spring. Investors should see $0.38 earnings per share with $6.81 million in profits. Wall Street analysts are predicting a -2.56% negative growth rate for MCRI. Funds like Dorsey Wright and Associates, Driehaus Capital, Pub Sector Pension Board, Deutsche Bank Ag and First Tru Advisors LP are looking to make decisions on future investing.
A version of this article first appeared at enbulletin.com