Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Average Rating of “Hold” from Analysts

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has received a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $87.20.

Several research firms have recently commented on MCRI. Truist Financial raised shares of 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 research report on Tuesday, January 14th. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a research report 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 company a “hold” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a research report on Wednesday, February 12th.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $81.03 on Wednesday. The business’s 50 day moving average price is $86.71 and its 200 day moving average price is $82.20. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 16.37 and a beta of 1.74. Monarch Casino & Resort has a one year low of $64.50 and a one year high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, beating 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 in the previous year, the business posted $1.03 EPS. On average, analysts predict that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the transaction, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 24.94% of the stock is currently owned by company insiders.

Institutional Trading of Monarch Casino & Resort

Several institutional investors have recently modified their holdings of MCRI. Golden State Wealth Management LLC purchased a new stake in Monarch Casino & Resort in the fourth quarter valued at $53,000. KBC Group NV boosted its position in shares of Monarch Casino & Resort by 67.8% in the 4th 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 period. Independence Bank of Kentucky purchased a new position in Monarch Casino & Resort during the 4th quarter worth approximately $93,000. Nisa Investment Advisors LLC increased its position in Monarch Casino & Resort by 30.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after buying an additional 400 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Monarch Casino & Resort in the fourth quarter valued at approximately $169,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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.