Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Consensus Rating of “Hold” from Brokerages

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been given an average recommendation of “Hold” by the five research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $87.20.

Several research analysts recently weighed in on MCRI shares. Stifel Nicolaus boosted their price objective on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Jefferies Financial Group boosted their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 12th. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their target price for the company from $82.00 to $100.00 in a research report on Tuesday, January 14th.

Monarch Casino & Resort Trading Down 3.4 %

NASDAQ:MCRI opened at $89.40 on Friday. Monarch Casino & Resort has a 1 year low of $64.50 and a 1 year high of $96.11. The firm has a 50 day moving average of $83.60 and a 200-day moving average of $80.29. The stock has a market capitalization of $1.64 billion, a P/E ratio of 18.06 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same period in the previous year, the company earned $1.03 earnings per share. As a group, analysts forecast that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

Insider Activity

In other news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the transaction, the chief executive officer now owns 528,436 shares of the company’s stock, valued at $41,059,477.20. The trade was a 0.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monarch Casino & Resort

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in shares of Monarch Casino & Resort in the 3rd quarter valued at $30,000. Golden State Wealth Management LLC acquired a new position in Monarch Casino & Resort in the 4th quarter worth $53,000. KBC Group NV boosted its stake in Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company’s stock worth $77,000 after purchasing an additional 396 shares during the period. Independence Bank of Kentucky acquired a new position in Monarch Casino & Resort in the 4th quarter worth $93,000. Finally, Nisa Investment Advisors LLC boosted its stake in Monarch Casino & Resort by 30.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.