Monarch Casino & Resort (NASDAQ:MCRI) Price Target Increased to $76.00 by Analysts at Macquarie

Monarch Casino & Resort (NASDAQ:MCRI) had its target price upped by stock analysts at Macquarie from $75.00 to $76.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Macquarie’s target price indicates a potential upside of 16.58% from the company’s previous close.

Several other equities research analysts have also recently commented on MCRI. Stifel Nicolaus reiterated a “hold” rating and set a $70.00 price target on shares of Monarch Casino & Resort in a research report on Friday, January 5th. StockNews.com upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Finally, Truist Financial lifted their price target on shares of Monarch Casino & Resort from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th.

Monarch Casino & Resort Price Performance

Shares of NASDAQ MCRI traded down $4.38 during trading on Thursday, reaching $65.19. The company had a trading volume of 60,048 shares, compared to its average volume of 114,341. Monarch Casino & Resort has a 52 week low of $56.25 and a 52 week high of $77.19. The stock has a market cap of $1.23 billion, a PE ratio of 15.60 and a beta of 1.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.55 and a current ratio of 0.61. The business’s 50 day moving average price is $70.83 and its 200-day moving average price is $67.04.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, February 14th. The company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). Monarch Casino & Resort had a return on equity of 17.41% and a net margin of 16.44%. The company had revenue of $128.19 million during the quarter, compared to the consensus estimate of $119.33 million. Analysts expect that Monarch Casino & Resort will post 4.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MCRI. State of Wyoming acquired a new position in Monarch Casino & Resort during the fourth quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Monarch Casino & Resort by 40.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 637 shares of the company’s stock valued at $40,000 after buying an additional 184 shares during the period. UBS Group AG boosted its holdings in shares of Monarch Casino & Resort by 214.2% in the third quarter. UBS Group AG now owns 1,458 shares of the company’s stock valued at $82,000 after buying an additional 994 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Monarch Casino & Resort in the fourth quarter valued at approximately $108,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Monarch Casino & Resort by 30.0% in the first quarter. Captrust Financial Advisors now owns 1,593 shares of the company’s stock valued at $139,000 after buying an additional 368 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, 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.