Monarch Casino & Resort (NASDAQ:MCRI) Upgraded 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 Thursday morning.

Other research analysts have also issued reports about the company. Stifel Nicolaus upped their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Truist Financial increased their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Wells Fargo & Company assumed coverage on shares of Monarch Casino & Resort in a report on Monday, December 16th. They set an “underweight” rating and a $79.00 price objective on the stock. Finally, Jefferies Financial Group lifted their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.40.

Monarch Casino & Resort Trading Down 1.1 %

NASDAQ:MCRI opened at $78.20 on Thursday. The firm has a market capitalization of $1.44 billion, a PE ratio of 17.30 and a beta of 1.73. Monarch Casino & Resort has a 1 year low of $64.50 and a 1 year high of $89.06. The firm’s fifty day simple moving average is $82.09 and its 200 day simple moving average is $76.92.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The company had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. During the same period last year, the business posted $1.38 earnings per share. As a group, analysts anticipate that Monarch Casino & Resort will post 4.72 EPS for the current fiscal year.

Insider Activity

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.50, for a total value of $153,000.00. Following the sale, the chief executive officer now directly owns 557,404 shares in the company, valued at $42,641,406. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 24.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Monarch Casino & Resort

Several large investors have recently made changes to their positions in MCRI. Janus Henderson Group PLC increased its holdings in shares of Monarch Casino & Resort by 0.9% during the third quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock worth $30,809,000 after buying an additional 3,488 shares in the last quarter. American Century Companies Inc. raised its position in Monarch Casino & Resort by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after purchasing an additional 46,323 shares during the last quarter. Wellington Management Group LLP raised its position in Monarch Casino & Resort by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock valued at $17,410,000 after purchasing an additional 8,283 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Monarch Casino & Resort by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock worth $11,949,000 after purchasing an additional 9,990 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Monarch Casino & Resort by 1.1% in the third quarter. FMR LLC now owns 134,098 shares of the company’s stock valued at $10,630,000 after buying an additional 1,396 shares in the last quarter. Institutional investors own 62.37% of the company’s stock.

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.