StockNews.com upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI – Free Report) 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.
Get Our Latest Stock Report on MCRI
Monarch Casino & Resort Trading Down 0.2 %
Monarch Casino & Resort (NASDAQ:MCRI – Get Free Report) 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.
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