Davenport & Co. Discloses 1.16M Share Stake in Monarch Casino

TL;DR

**Davenport & Co. just revealed a big 1.16M share position in Monarch Casino, a bullish sign!**

AI Summary

Davenport & Company LLC, a Virginia-based investment firm, reported beneficial ownership of 1,161,928 shares of Monarch Casino & Resort Inc. (MCRI) common stock as of December 31, 2023. This filing, an SC 13G, indicates that Davenport & Company LLC holds significant sole voting power over these shares. This matters to investors because it reveals a substantial institutional stake in MCRI, suggesting confidence from a professional money manager, which could be seen as a positive signal for the stock's stability and future prospects.

Why It Matters

This filing shows a major institutional investor, Davenport & Company LLC, has a significant stake in Monarch Casino & Resort, signaling their belief in the company's value.

Risk Assessment

Risk Level: low — This filing indicates an institutional investment, which generally adds stability and confidence to a stock, thus lowering risk.

Analyst Insight

A smart investor would note this institutional vote of confidence and consider further research into Monarch Casino & Resort Inc.'s fundamentals, especially if they are considering buying or holding the stock.

Key Numbers

• 1,161,928 — Shares Beneficially Owned (Represents the total number of Monarch Casino & Resort Inc. shares Davenport & Company LLC has sole voting power over.)
• December 31, 2023 — Event Date (The specific date that triggered the requirement for this SC 13G filing.)
• 609027107 — CUSIP Number (Unique identifier for Monarch Casino & Resort Inc.'s Common Stock.)

Key Players & Entities

• Davenport & Company LLC (company) — the reporting person and institutional investor
• Monarch Casino & Resort Inc. (company) — the subject company whose shares are being reported
• Virginia, USA (company) — place of organization for Davenport & Company LLC
• December 31, 2023 (date) — date of event requiring the filing
• 1,161,928 (dollar_amount) — number of shares beneficially owned with sole voting power

Forward-Looking Statements

• Other institutional investors may view Davenport & Company LLC's significant stake as a positive signal, potentially leading to increased interest or investment in Monarch Casino & Resort Inc. (Monarch Casino & Resort Inc.) — medium confidence, target: Next 3-6 months

FAQ

Filing Documents

• mcri_20724.htm (SC 13G) — 25KB
• 0001085146-24-000804.txt ( ) — 27KB

(a)

ITEM 1(a). NAME OF ISSUER: MONARCH CASINO & RESORT INC

(b)

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 3800 S. VIRGINIA STREET EXECUTIVE OFFICES RENO, NEVADA 89502

(a)

ITEM 2(a). NAME OF PERSON FILING: Davenport & Company LLC

(b)

ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: ONE JAMES CENTER 901 E. CARY STREET STE.1100 RICHMOND, VA 23219

(c)

ITEM 2(c). CITIZENSHIP: Virginia, USA

(d)

ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Stock

(e)

ITEM 2(e). CUSIP NUMBER: 609027107 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) [X] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: ITEM 4. (a) Amount beneficially owned: 1,187,370 (b) Percent of class: 6.23% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: 1,161,928 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or direct the disposition of: 1,187,370 (iv) shared power to dispose or to direct the disposition of: 0 ITEM 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securitie

View Full Filing

View this SC 13G filing on SEC EDGAR