Monarch Casino & Resort (NASDAQ:MCRI) Upgraded to Strong-Buy by 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.

MCRI has been the topic of a number of other research reports. Truist Financial lifted their price target on Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Macquarie reiterated a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Price Performance

Shares of MCRI opened at $73.83 on Monday. Monarch Casino & Resort has a 12 month low of $57.88 and a 12 month high of $80.22. The stock has a fifty day moving average price of $75.81 and a 200 day moving average price of $71.44. The company has a market cap of $1.38 billion, a P/E ratio of 17.45 and a beta of 1.73.

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

Institutional Investors Weigh In On Monarch Casino & Resort

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCRI. American Century Companies Inc. raised its stake in shares of Monarch Casino & Resort by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after buying an additional 46,323 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in Monarch Casino & Resort by 0.3% in the 2nd quarter. Tributary Capital Management LLC now owns 276,426 shares of the company’s stock valued at $18,833,000 after acquiring an additional 827 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Monarch Casino & Resort by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company’s stock valued at $12,177,000 after purchasing an additional 1,400 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Monarch Casino & Resort by 6.0% in the 2nd 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, Renaissance Technologies LLC raised its holdings in shares of Monarch Casino & Resort by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 110,100 shares of the company’s stock worth $7,501,000 after purchasing an additional 11,500 shares in the last quarter. 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.