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

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

MCRI has been the topic of a number of other reports. Truist Financial increased their price objective on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Stifel Nicolaus increased their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th.

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI opened at $84.01 on Thursday. The company’s 50-day simple moving average is $79.43 and its 200-day simple moving average is $73.75. Monarch Casino & Resort has a fifty-two week low of $62.03 and a fifty-two week high of $86.68. The stock has a market capitalization of $1.54 billion, a P/E ratio of 18.59 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its 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 analyst estimates of $134.50 million. During the same period in the prior year, the company posted $1.38 EPS. On average, research analysts forecast that Monarch Casino & Resort will post 4.72 EPS for the current year.

Institutional Investors Weigh In On Monarch Casino & Resort

Several hedge funds have recently bought and sold shares of MCRI. Quadrature Capital Ltd acquired a new position in shares of Monarch Casino & Resort in the 1st quarter valued at $239,000. Price T Rowe Associates Inc. MD grew its position in shares of Monarch Casino & Resort by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,851 shares of the company’s stock valued at $289,000 after acquiring an additional 443 shares during the period. Westwood Holdings Group Inc. purchased a new position in shares of Monarch Casino & Resort in the 1st quarter valued at about $2,822,000. Manning & Napier Advisors LLC acquired a new position in Monarch Casino & Resort in the 2nd quarter worth about $3,307,000. Finally, Annex Advisory Services LLC boosted its position in Monarch Casino & Resort by 12.0% during the second quarter. Annex Advisory Services LLC now owns 15,768 shares of the company’s stock worth $1,074,000 after purchasing an additional 1,690 shares in the last quarter. Hedge funds and other institutional investors 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.