Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Average Rating of “Reduce” by Analysts

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been given an average rating of “Reduce” by the five analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $80.40.

A number of research analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. StockNews.com raised Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Truist Financial boosted their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company began coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target on the stock.

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 value of $77,700.00. Following the completion of the sale, the chief executive officer now directly owns 528,436 shares in the company, valued at $41,059,477.20. This represents a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 24.94% of the company’s stock.

Institutional Investors Weigh In On Monarch Casino & Resort

Hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC purchased a new stake in Monarch Casino & Resort in the 3rd quarter worth $258,000. Barclays PLC increased its stake in Monarch Casino & Resort by 108.2% in the 3rd quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after buying an additional 17,413 shares in the last quarter. American Century Companies Inc. increased its stake in Monarch Casino & Resort by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after buying an additional 46,323 shares in the last quarter. Wellington Management Group LLP increased its stake in Monarch Casino & Resort by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after buying an additional 8,283 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in Monarch Casino & Resort in the 3rd quarter worth $230,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Trading Up 1.1 %

NASDAQ MCRI opened at $79.10 on Friday. Monarch Casino & Resort has a 1-year low of $64.50 and a 1-year high of $89.06. The stock has a 50-day moving average of $82.09 and a 200-day moving average of $76.78. The firm has a market cap of $1.45 billion, a PE ratio of 17.50 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $134.50 million. During the same quarter in the previous year, the business earned $1.38 EPS. As a group, equities research analysts forecast that Monarch Casino & Resort will post 4.72 earnings per share for the current fiscal year.

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.