Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Average Rating of “Hold” from Brokerages

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have earned a consensus rating of “Hold” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $87.20.

A number of research analysts have weighed in on MCRI shares. Wells Fargo & Company boosted their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a research report on Wednesday, February 12th. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and lifted their price objective for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday, January 3rd.

Insider Activity

In other news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the sale, the chief executive officer now owns 528,436 shares in the company, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 24.94% of the company’s stock.

Institutional Investors Weigh In On Monarch Casino & Resort

Large investors have recently modified their holdings of the business. HighTower Advisors LLC bought a new stake in shares of Monarch Casino & Resort in the 3rd quarter valued at about $258,000. Barclays PLC grew its position in shares of Monarch Casino & Resort by 108.2% in the 3rd quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after buying an additional 17,413 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in shares of Monarch Casino & Resort in the 4th quarter worth approximately $1,516,000. Wellington Management Group LLP grew its position in shares of Monarch Casino & Resort by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after buying an additional 8,283 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Monarch Casino & Resort in the 4th quarter worth approximately $254,000. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Down 2.9 %

MCRI stock opened at $81.34 on Wednesday. Monarch Casino & Resort has a twelve month low of $64.50 and a twelve month high of $96.11. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.43 and a beta of 1.74. The firm’s fifty day simple moving average is $86.53 and its two-hundred day simple moving average is $81.99.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same quarter in the previous year, the business earned $1.03 EPS. As a group, equities research analysts expect that Monarch Casino & Resort will post 5.13 EPS for the current year.

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.