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

StockNews.com upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a buy rating to a strong-buy rating in a research note published on Thursday.

Several other equities research analysts also recently weighed in on the stock. Stifel Nicolaus raised their price target 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. Truist Financial lifted their target price on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd.

Monarch Casino & Resort Price Performance

Shares of MCRI opened at $83.99 on Thursday. Monarch Casino & Resort has a one year low of $62.03 and a one year high of $86.68. The company has a 50-day simple moving average of $79.28 and a two-hundred day simple moving average of $73.67. The firm has a market capitalization of $1.54 billion, a PE ratio of 18.58 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The firm had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. During the same period last year, the business earned $1.38 earnings per share. Analysts expect that Monarch Casino & Resort will post 4.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MCRI. Financial Management Professionals Inc. bought a new position in Monarch Casino & Resort in the 3rd quarter worth $30,000. GAMMA Investing LLC lifted its holdings in shares of Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after acquiring an additional 178 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Monarch Casino & Resort in the 2nd quarter worth about $53,000. Canada Pension Plan Investment Board purchased a new stake in Monarch Casino & Resort in the 2nd quarter worth about $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Monarch Casino & Resort by 81.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock worth $185,000 after purchasing an additional 1,221 shares during the period. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Company Profile

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.