Monarch has a market capitalization of about $883 million, making it a small-cap stock. At that level, hedge fund ownership of the name in dollar terms isn’t substantial, but on a relative basis, it is stout.<\/p>\n
The largest stake in Monarch Casino & Resort was held by Park West Asset Management, which reported holding $61.7 million worth of stock at the end of September. It was followed by Lafitte Capital Management with a $40.8 million position,\u201d according to Insider Monkey.<\/i><\/p><\/blockquote>\n
In terms of portfolio allocation, Lafitte Capital devotes over 23 percent of its equity roster to Monarch, while Park Capital has a three percent weight to the gaming stock.<\/p>\n
Wall Street Views<\/h2>\n
Because of its small size and tiny portfolio of properties, Monarch is sparsely covered by sell-side analysts compared to larger casino operators.<\/p>\n
Currently, four analysts follow the stock \u2013 one with the equivalent of a \u201cvery bullish\u201d outlook, and three with \u201cneutral\u201d ratings. On a scale of one to five, Monarch’s numerical rating is 3.50, and the consensus price target on the name is $47.25. The shares closed at $48.14 today.<\/strong><\/p>\nThe company is expected to complete the initial phase of its Black Hawk renovations in early 2020. Monarch has spent over $400 million on enhancements at that property, all of which was funded by existing cash flow, meaning the company didn’t issue new debt to bolster the Colorado casino-resort.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of regional gaming company Monarch Casino & Resort (NASDAQ:MCRI) are setting a torrid pace to end 2019. The stock is up 9.51 percent just this month, boosting its fourth-quarter gain to nearly 12 percent. Recent bullishness in the operator of the Atlantis Casino-Resort in Reno, Nevada validates the views of investors that stepped into […]<\/p>\n","protected":false},"author":46,"featured_media":123000,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Monarch Casino Stock Is Luring More Hedge Funds<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n