Monarch Casino & Resort (NASDAQ:MCRI) PT Raised to $77.00 at Stifel Nicolaus

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective upped by equities researchers at Stifel Nicolaus from $72.00 to $77.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective points to a potential downside of 2.63% from the stock’s previous close.

Several other equities analysts have also recently commented on MCRI. Truist Financial raised their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday. Macquarie reissued a “neutral” rating and set a $76.00 price objective on shares of Monarch Casino & Resort in a report on Thursday, July 25th. Finally, StockNews.com raised shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a report on Monday, October 21st.

Monarch Casino & Resort Trading Up 0.8 %

Shares of Monarch Casino & Resort stock opened at $79.08 on Thursday. The firm has a market capitalization of $1.46 billion, a PE ratio of 18.48 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. The firm’s 50-day moving average price is $75.99 and its 200 day moving average price is $71.56.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. The business had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. During the same quarter last year, the firm earned $1.38 EPS. On average, sell-side analysts predict that Monarch Casino & Resort will post 4.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. bought a new stake in shares of Monarch Casino & Resort during the 3rd quarter worth about $30,000. GAMMA Investing LLC increased its position in shares of Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after acquiring an additional 178 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Monarch Casino & Resort during the second quarter valued at approximately $53,000. Canada Pension Plan Investment Board purchased a new position in Monarch Casino & Resort during the second quarter valued at approximately $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Monarch Casino & Resort by 81.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after purchasing an additional 1,221 shares in the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

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.