Monarch Casino & Resort (NASDAQ:MCRI) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Monarch Casino & Resort (NASDAQ:MCRI) had its price target increased by stock analysts at Jefferies Financial Group from $73.00 to $88.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 12.47% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company initiated coverage on shares of Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 target price on the stock. Truist Financial increased their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Finally, StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $80.40.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock opened at $78.24 on Friday. The firm has a 50 day simple moving average of $82.13 and a 200 day simple moving average of $76.55. Monarch Casino & Resort has a fifty-two week low of $64.50 and a fifty-two week high of $89.06. The firm has a market cap of $1.44 billion, a P/E ratio of 17.31 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The company had revenue of $137.87 million during the quarter, compared to analysts’ expectations of $134.50 million. During the same period last year, the firm earned $1.38 EPS. On average, sell-side analysts expect that Monarch Casino & Resort will post 4.72 EPS for the current year.

Institutional Investors Weigh In On Monarch Casino & Resort

Several hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in shares of Monarch Casino & Resort by 7.3% in the 3rd quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock valued at $665,000 after buying an additional 597 shares during the period. Barclays PLC lifted its holdings in Monarch Casino & Resort by 108.2% during the third quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after acquiring an additional 17,413 shares in the last quarter. Jane Street Group LLC grew its stake in Monarch Casino & Resort by 518.8% in the third quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after acquiring an additional 98,153 shares during the period. Wellington Management Group LLP increased its holdings in shares of Monarch Casino & Resort by 3.9% in the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after acquiring an additional 8,283 shares in the last quarter. Finally, Weiss Asset Management LP raised its position in shares of Monarch Casino & Resort by 1,289.7% during the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock worth $6,279,000 after purchasing an additional 73,512 shares during the period. 62.37% of the stock is currently owned by institutional investors and hedge funds.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.