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

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been assigned an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $93.20.

A number of research firms have recently weighed in on MCRI. Stifel Nicolaus raised their price target on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a “hold” rating in a research report on Thursday, July 17th. Truist Financial raised their price objective on Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised shares of Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $83.00 to $89.00 in a report on Thursday, July 17th. Finally, Wall Street Zen raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Sunday, July 13th.

Monarch Casino & Resort Trading Up 2.6%

MCRI stock opened at $104.99 on Friday. Monarch Casino & Resort has a twelve month low of $69.99 and a twelve month high of $113.88. The company has a market capitalization of $1.92 billion, a P/E ratio of 19.73 and a beta of 1.56. The firm has a 50 day simple moving average of $95.19 and a 200-day simple moving average of $86.87.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.22. Monarch Casino & Resort had a net margin of 18.70% and a return on equity of 18.99%. The business had revenue of $136.91 million during the quarter, compared to the consensus estimate of $129.76 million. On average, research analysts predict that Monarch Casino & Resort will post 5.13 EPS for the current year.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 2,000 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $105.78, for a total transaction of $211,560.00. Following the completion of the sale, the chief executive officer owned 560,110 shares of the company’s stock, valued at $59,248,435.80. This represents a 0.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig F. Sullivan sold 12,200 shares of Monarch Casino & Resort stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $105.55, for a total value of $1,287,710.00. The disclosure for this sale can be found here. 25.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Monarch Casino & Resort

Institutional investors have recently made changes to their positions in the stock. LPL Financial LLC grew its holdings in shares of Monarch Casino & Resort by 47.0% during the fourth quarter. LPL Financial LLC now owns 6,737 shares of the company’s stock valued at $532,000 after purchasing an additional 2,155 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in Monarch Casino & Resort by 3.9% in the first quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company’s stock valued at $526,000 after buying an additional 254 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in Monarch Casino & Resort by 45.6% in the first quarter. GHP Investment Advisors Inc. now owns 11,075 shares of the company’s stock valued at $861,000 after buying an additional 3,467 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Monarch Casino & Resort by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company’s stock valued at $104,000 after buying an additional 666 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Monarch Casino & Resort by 45.3% in the fourth quarter. Deutsche Bank AG now owns 11,160 shares of the company’s stock valued at $881,000 after buying an additional 3,477 shares during the last quarter. 62.37% of the stock is owned by institutional investors.

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.