Monarch Casino & Resort (NASDAQ:MCRI) Trading Down 3.7% – What’s Next?

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) traded down 3.7% on Monday . The company traded as low as $82.14 and last traded at $81.91. 78,723 shares traded hands during trading, a decline of 28% from the average session volume of 109,258 shares. The stock had previously closed at $85.02.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 12th. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Jefferies Financial Group upped their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Stifel Nicolaus upped their target price on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Finally, Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their target price for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Monarch Casino & Resort has an average rating of “Hold” and a consensus price target of $87.20.

Monarch Casino & Resort Trading Down 2.9 %

The company’s 50 day moving average is $86.53 and its 200 day moving average is $81.99. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.43 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same quarter last year, the company posted $1.03 EPS. Analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the transaction, the chief executive officer now directly owns 528,436 shares in the company, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 24.94% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MCRI. GSA Capital Partners LLP acquired a new position in Monarch Casino & Resort in the third quarter valued at $309,000. Victory Capital Management Inc. increased its stake in Monarch Casino & Resort by 58.9% in the third quarter. Victory Capital Management Inc. now owns 8,462 shares of the company’s stock valued at $671,000 after purchasing an additional 3,138 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Monarch Casino & Resort in the third quarter valued at $1,868,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Monarch Casino & Resort by 141.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,736 shares of the company’s stock valued at $613,000 after purchasing an additional 4,528 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Monarch Casino & Resort in the third quarter valued at $444,000. 62.37% of the stock is currently 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.