Monarch Casino & Resort (NASDAQ:MCRI) Raised 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 report issued on Monday morning.

Several other brokerages have also recently commented on MCRI. Truist Financial boosted their target price on Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Macquarie reissued a “neutral” rating and set a $76.00 target price on shares of Monarch Casino & Resort in a report on Thursday, July 25th.

Monarch Casino & Resort Trading Down 0.2 %

MCRI opened at $73.64 on Monday. The business’s 50 day moving average is $75.82 and its 200-day moving average is $71.47. The stock has a market cap of $1.38 billion, a PE ratio of 17.41 and a beta of 1.73. Monarch Casino & Resort has a twelve month low of $57.88 and a twelve month high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $128.14 million for the quarter, compared to analysts’ expectations of $126.03 million. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. As a group, analysts forecast that Monarch Casino & Resort will post 4.62 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MCRI. Millennium Management LLC increased its holdings in shares of Monarch Casino & Resort by 376.1% in the second quarter. Millennium Management LLC now owns 85,869 shares of the company’s stock valued at $5,850,000 after buying an additional 67,833 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Monarch Casino & Resort in the second quarter valued at $3,307,000. American Century Companies Inc. increased its holdings in shares of Monarch Casino & Resort by 17.3% in the second quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after buying an additional 46,323 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Monarch Casino & Resort in the first quarter valued at $2,822,000. Finally, Vest Financial LLC purchased a new position in Monarch Casino & Resort during the 1st quarter worth approximately $872,000. Institutional investors own 62.37% of the company’s stock.

About Monarch Casino & Resort

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.