Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Consensus Rating of “Hold” by Brokerages

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has earned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $112.40.

MCRI has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of Monarch Casino & Resort from $97.00 to $99.00 and gave the company an “equal weight” rating in a report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monarch Casino & Resort in a research note on Wednesday, May 27th. UBS Group set a $124.00 price target on shares of Monarch Casino & Resort in a research report on Thursday. Stifel Nicolaus boosted their price target on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Finally, Truist Financial upped their price objective on shares of Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 5,000 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.84, for a total transaction of $604,200.00. Following the transaction, the chief executive officer directly owned 616,556 shares in the company, valued at $74,504,627.04. This represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Monarch Casino & Resort

Institutional investors and hedge funds have recently modified their holdings of the company. Qube Research & Technologies Ltd lifted its stake in Monarch Casino & Resort by 77.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company’s stock worth $19,951,000 after acquiring an additional 82,035 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Monarch Casino & Resort in the 4th quarter valued at about $7,244,000. Arrowstreet Capital Limited Partnership increased its stake in Monarch Casino & Resort by 64.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company’s stock worth $18,943,000 after purchasing an additional 70,185 shares during the period. Clark Capital Management Group Inc. purchased a new stake in Monarch Casino & Resort during the third quarter worth about $6,192,000. Finally, Invesco Ltd. lifted its position in shares of Monarch Casino & Resort by 38.2% during the fourth quarter. Invesco Ltd. now owns 194,371 shares of the company’s stock worth $18,601,000 after purchasing an additional 53,745 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Trading Down 0.1%

MCRI stock traded down $0.10 during midday trading on Tuesday, hitting $127.04. 45,512 shares of the company’s stock were exchanged, compared to its average volume of 140,160. Monarch Casino & Resort has a 1-year low of $85.66 and a 1-year high of $135.93. The stock has a market capitalization of $2.26 billion, a PE ratio of 21.50 and a beta of 1.29. The business has a 50-day simple moving average of $122.93 and a two-hundred day simple moving average of $105.71.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.15 by $0.37. The business had revenue of $136.55 million for the quarter, compared to analyst estimates of $128.49 million. Monarch Casino & Resort had a return on equity of 19.98% and a net margin of 19.62%.The company’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts expect that Monarch Casino & Resort will post 7.07 EPS for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. Monarch Casino & Resort’s payout ratio is presently 20.34%.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.