Monarch Casino & Resort (NASDAQ:MCRI) Rating Lowered to Buy at StockNews.com

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

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

Monarch Casino & Resort Trading Up 1.7 %

MCRI stock opened at $94.16 on Wednesday. Monarch Casino & Resort has a one year low of $64.50 and a one year high of $96.11. The firm has a 50-day moving average of $82.89 and a two-hundred day moving average of $79.59. The firm has a market capitalization of $1.73 billion, a PE ratio of 20.83 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last issued 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 net margin of 16.82% and a return on equity of 17.06%. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, equities research analysts anticipate that Monarch Casino & Resort will post 4.73 earnings per share for the current year.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were 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 in the company, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 24.94% of the company’s stock.

Hedge Funds Weigh In On Monarch Casino & Resort

Several hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. acquired a new stake in shares of Monarch Casino & Resort in the third quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after purchasing an additional 178 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Monarch Casino & Resort during the fourth quarter worth approximately $53,000. KBC Group NV grew its holdings in Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after purchasing an additional 396 shares during the last quarter. Finally, Independence Bank of Kentucky bought a new position in shares of Monarch Casino & Resort in the fourth quarter valued at approximately $93,000. 62.37% of the stock is owned by institutional investors and hedge funds.

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.