BlackRock Cuts Stake in Monarch Casino to 6.2%
Ticker: MCRI · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 907242
| Field | Detail |
|---|---|
| Company | Monarch Casino & Resort Inc (MCRI) |
| Form Type | SC 13G/A |
| Filed Date | Jan 24, 2024 |
| Risk Level | medium |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, casino-resort, amendment
TL;DR
**BlackRock just trimmed its MONARCH CASINO stake to 6.2%.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 24, 2024, disclosing its ownership in Monarch Casino & Resort Inc. As of December 31, 2023, BlackRock reported beneficial ownership of 1,200,000 shares of Monarch's Common Stock, representing 6.2% of the company. This is a decrease from their previous filing, indicating BlackRock has reduced its stake in the casino operator. This matters to investors because a major institutional investor like BlackRock reducing its position could signal a shift in their outlook on Monarch Casino & Resort Inc.'s future performance or valuation.
Why It Matters
This filing shows BlackRock, a major institutional investor, has reduced its ownership in Monarch Casino & Resort Inc., which could be interpreted as a lack of conviction or a strategic reallocation of capital away from the company.
Risk Assessment
Risk Level: medium — A significant institutional investor reducing its stake can sometimes precede a period of underperformance for the stock, posing a moderate risk to current or prospective shareholders.
Analyst Insight
A smart investor would investigate the reasons behind BlackRock's reduced stake in Monarch Casino & Resort Inc. and consider if this signals a broader negative outlook for the company or the casino industry before making any investment decisions.
Key Numbers
- 1,200,000 — Shares Beneficially Owned (This is the total number of Monarch Casino & Resort Inc. common shares BlackRock Inc. reported owning as of December 31, 2023.)
- 6.2% — Percentage of Class (This represents BlackRock Inc.'s ownership percentage of Monarch Casino & Resort Inc.'s common stock, indicating a reduction from previous filings.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person who filed the SC 13G/A
- Monarch Casino & Resort Inc. (company) — the subject company in which BlackRock holds shares
- 1,200,000 shares (dollar_amount) — the number of shares beneficially owned by BlackRock as of December 31, 2023
- 6.2% (dollar_amount) — the percentage of Monarch Casino & Resort Inc.'s common stock beneficially owned by BlackRock
- December 31, 2023 (date) — the date of the event which required the filing of this statement
- January 24, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- Monarch Casino & Resort Inc.'s stock price may experience downward pressure or increased volatility in the short term. (Monarch Casino & Resort Inc.) — medium confidence, target: Q1 2024
- Other institutional investors might re-evaluate their positions in Monarch Casino & Resort Inc. following BlackRock's reduction. (Institutional Investors) — medium confidence, target: Q2 2024
FAQ
What is the purpose of this SC 13G/A filing by BlackRock Inc.?
BlackRock Inc. filed this SC 13G/A as an amendment (Amendment No: 13) to report changes in its beneficial ownership of Common Stock in Monarch Casino & Resort Inc., as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
What was BlackRock Inc.'s beneficial ownership percentage in Monarch Casino & Resort Inc. as of the reporting date?
As of December 31, 2023, BlackRock Inc. reported beneficial ownership of 6.2% of the Common Stock of Monarch Casino & Resort Inc.
How many shares of Monarch Casino & Resort Inc. Common Stock does BlackRock Inc. beneficially own according to this filing?
BlackRock Inc. beneficially owns 1,200,000 shares of Monarch Casino & Resort Inc. Common Stock, as stated in the filing.
What is the CUSIP number for Monarch Casino & Resort Inc.'s Common Stock mentioned in the filing?
The CUSIP number for Monarch Casino & Resort Inc.'s Common Stock is 609027107, as listed on the cover page of the Schedule 13G.
When was the 'Date of Event Which Requires Filing of this Statement' for this SC 13G/A?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as indicated on the cover page of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding MONARCH CASINO & RESORT INC (MCRI).