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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $93.20.

Several equities research analysts have commented on MCRI shares. Stifel Nicolaus boosted their target price on Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. Truist Financial upped their target price on shares of 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 upgraded shares of Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $83.00 to $89.00 in a research note on Thursday, July 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monarch Casino & Resort in a research report on Saturday, September 27th. Finally, Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th.

Insiders Place Their Bets

In other news, CEO John Farahi sold 2,000 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $105.78, for a total transaction of $211,560.00. Following the transaction, the chief executive officer directly owned 560,110 shares of the company’s stock, valued at $59,248,435.80. This represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Craig F. Sullivan sold 12,200 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $105.55, for a total transaction of $1,287,710.00. The disclosure for this sale can be found here. Corporate insiders own 25.52% of the company’s stock.

Institutional Investors Weigh In On Monarch Casino & Resort

A number of hedge funds have recently added to or reduced their stakes in MCRI. Invesco Ltd. lifted its holdings in shares of Monarch Casino & Resort by 147.1% during the 1st quarter. Invesco Ltd. now owns 222,770 shares of the company’s stock valued at $17,320,000 after buying an additional 132,599 shares during the period. Nuveen LLC bought a new position in Monarch Casino & Resort in the first quarter valued at about $9,872,000. Fuller & Thaler Asset Management Inc. lifted its holdings in Monarch Casino & Resort by 40.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 343,565 shares of the company’s stock valued at $26,712,000 after acquiring an additional 98,371 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Monarch Casino & Resort in the first quarter worth about $5,904,000. Finally, Geode Capital Management LLC grew its stake in shares of Monarch Casino & Resort by 20.0% during the 2nd quarter. Geode Capital Management LLC now owns 391,868 shares of the company’s stock valued at $33,877,000 after purchasing an additional 65,272 shares during the period. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Down 0.0%

NASDAQ:MCRI opened at $97.98 on Friday. The firm’s fifty day simple moving average is $102.18 and its 200 day simple moving average is $90.44. The stock has a market cap of $1.79 billion, a P/E ratio of 18.42 and a beta of 1.49. Monarch Casino & Resort has a twelve month low of $69.99 and a twelve month high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, beating 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 firm had revenue of $136.91 million for the quarter, compared to analysts’ expectations of $129.76 million. On average, analysts expect that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

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.