Brokerages Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Price Target at $87.20

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have earned a consensus recommendation of “Hold” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $87.20.

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

Monarch Casino & Resort Stock Down 0.1 %

MCRI opened at $81.03 on Wednesday. Monarch Casino & Resort has a 52 week low of $64.50 and a 52 week high of $96.11. The business has a 50 day moving average price of $86.71 and a two-hundred day moving average price of $82.20. The company has a market cap of $1.50 billion, a PE ratio of 16.37 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same quarter in the prior year, the firm earned $1.03 earnings per share. As a group, sell-side analysts expect that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

Insider Activity at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction dated 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 approximately $41,059,477.20. The trade was a 0.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 24.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in Monarch Casino & Resort in the 4th quarter worth approximately $53,000. KBC Group NV grew its position in shares of Monarch Casino & Resort by 67.8% in the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after purchasing an additional 396 shares during the period. Independence Bank of Kentucky purchased a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at $93,000. Nisa Investment Advisors LLC lifted its position in Monarch Casino & Resort by 30.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after buying an additional 400 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Monarch Casino & Resort in the 4th quarter worth about $169,000. 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.