Monarch Casino & Resort (NASDAQ:MCRI) Rating Increased to Strong-Buy at StockNews.com

Monarch Casino & Resort (NASDAQ:MCRI) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

Several other analysts also recently commented on MCRI. Truist Financial raised their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus raised their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th.

Monarch Casino & Resort Stock Down 2.0 %

Monarch Casino & Resort stock traded down $1.70 during mid-day trading on Thursday, hitting $83.99. 137,755 shares of the stock were exchanged, compared to its average volume of 119,959. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 18.58 and a beta of 1.73. Monarch Casino & Resort has a 12 month low of $62.03 and a 12 month high of $86.68. The firm’s fifty day simple moving average is $79.28 and its two-hundred day simple moving average is $73.67.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.37 by $0.10. The company 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 16.82% and a return on equity of 17.06%. During the same quarter last year, the firm posted $1.38 EPS. As a group, analysts forecast that Monarch Casino & Resort will post 4.72 earnings per share for the current fiscal year.

Institutional Trading of Monarch Casino & Resort

Several hedge funds have recently bought and sold shares of the business. Trust Point Inc. grew its position in Monarch Casino & Resort by 1.5% in the 3rd quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock valued at $873,000 after purchasing an additional 162 shares during the period. GAMMA Investing LLC grew its position in Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after purchasing an additional 178 shares during the period. Sei Investments Co. grew its position in Monarch Casino & Resort by 1.4% in the 2nd quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock valued at $1,342,000 after purchasing an additional 271 shares during the period. Financial Management Professionals Inc. acquired a new stake in Monarch Casino & Resort in the 3rd quarter valued at $30,000. Finally, Price T Rowe Associates Inc. MD grew its position in Monarch Casino & Resort by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,851 shares of the company’s stock valued at $289,000 after purchasing an additional 443 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Company Profile

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.