Monarch Casino & Resort (NASDAQ:MCRI) Downgraded to Buy Rating by StockNews.com

Monarch Casino & Resort (NASDAQ:MCRI) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and increased their target price for the company from $82.00 to $100.00 in a research note on Tuesday, January 14th. Jefferies Financial Group lifted their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Stifel Nicolaus upped their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company began coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They issued an “underweight” rating and a $79.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $87.20.

Monarch Casino & Resort Stock Up 1.7 %

Shares of MCRI stock opened at $94.16 on Wednesday. Monarch Casino & Resort has a 12 month low of $64.50 and a 12 month high of $96.11. The firm has a market cap of $1.73 billion, a PE ratio of 20.83 and a beta of 1.74. The stock has a 50 day moving average of $82.89 and a 200-day moving average of $79.59.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Tuesday, February 11th. The company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same quarter in the previous year, the company posted $1.03 earnings per share. As a group, equities analysts predict that Monarch Casino & Resort will post 4.73 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Monarch Casino & Resort

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its position in Monarch Casino & Resort by 0.8% during the 4th quarter. Alliancebernstein L.P. now owns 15,381 shares of the company’s stock valued at $1,214,000 after purchasing an additional 121 shares during the period. Trust Point Inc. raised its stake in shares of Monarch Casino & Resort by 1.5% during the third quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock worth $873,000 after buying an additional 162 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after buying an additional 178 shares during the period. Heritage Family Offices LLP boosted its stake in Monarch Casino & Resort by 7.0% in the fourth quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock valued at $236,000 after acquiring an additional 196 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in Monarch Casino & Resort by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 24,706 shares of the company’s stock worth $1,949,000 after acquiring an additional 210 shares during the period. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Monarch Casino & Resort Company Profile

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.