5 Best Small-Cap Casino Stocks Hedge Funds Are Buying

4. Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Market Capitalization as of October 4: $1.2 billion

Number of Hedge Fund Holders: 19

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) is an American firm within the gaming and hospitality sector, with a primary emphasis on casino operations and the development of resorts. The company manages casino properties providing diverse gaming choices for its patrons.

During the second quarter of 2023, Monarch Casino & Resort, Inc. (NASDAQ: MCRI) disclosed a revenue of $123.6 million, marking a growth of 7.3% compared to the same period in the previous year. The company had a substantial sum of over $35 million available in cash and cash equivalents. Specifically, its casino revenue surged to $68.8 million from $63.8 million in the corresponding period last year. On August 30, Monarch Casino & Resort, Inc. (NASDAQ: MCRI) declared a quarterly dividend of $0.30 per share, contributing to a dividend yield of 1.92% as of October 4.

As of the latest data, the count of hedge funds tracked by Insider Monkey that hold stakes in Monarch Casino & Resort, Inc. (NASDAQ: MCRI) remained at 19, consistent with the previous quarter. The combined value of these stakes surpasses $53.6 million. Among the hedge funds being tracked by Insider Monkey, Texas-based investment firm Lafitte Capital Management is a leading shareholder in Monarch Casino & Resort, Inc. (NASDAQ:MCRI), with 370,917 shares worth more than $21.8 million.