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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has received an average rating of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation 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 analysts recently commented on the company. Stifel Nicolaus boosted their price target on Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a research note on Wednesday, February 12th. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group boosted their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $91.58 on Friday. The stock’s fifty day simple moving average is $84.39 and its 200 day simple moving average is $80.78. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 18.50 and a beta of 1.74. Monarch Casino & Resort has a one year low of $64.50 and a one year high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly 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 return on equity of 18.27% and a net margin of 18.01%. During the same period last year, the business posted $1.03 EPS. On average, research analysts anticipate that Monarch Casino & Resort will post 5.13 earnings per share for the current year.

Insider Activity

In other news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the transaction, the chief executive officer now owns 528,436 shares of the company’s stock, valued at $41,059,477.20. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 24.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Monarch Casino & Resort

Several large investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Monarch Casino & Resort by 35.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,451 shares of the company’s stock valued at $2,008,000 after acquiring an additional 6,700 shares during the period. State of Wyoming lifted its stake in shares of Monarch Casino & Resort by 56.4% during the fourth quarter. State of Wyoming now owns 3,341 shares of the company’s stock valued at $264,000 after acquiring an additional 1,205 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Monarch Casino & Resort in the fourth quarter valued at about $169,000. ProShare Advisors LLC increased its holdings in Monarch Casino & Resort by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 3,862 shares of the company’s stock valued at $305,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Quantedge Capital Pte Ltd bought a new stake in Monarch Casino & Resort in the fourth quarter valued at about $1,585,000. 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.