Monarch Casino & Resort (NASDAQ:MCRI) Price Target Raised to $88.00 at Jefferies Financial Group

Monarch Casino & Resort (NASDAQ:MCRI) had its target price upped by Jefferies Financial Group from $73.00 to $88.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also recently weighed in on MCRI. Stifel Nicolaus upped their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Wells Fargo & Company began coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They set an “underweight” rating and a $79.00 price target for the company. Finally, Truist Financial boosted 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.40.

Monarch Casino & Resort Price Performance

NASDAQ MCRI opened at $78.24 on Friday. The stock’s 50-day moving average is $82.13 and its 200-day moving average is $76.49. Monarch Casino & Resort has a one year low of $64.50 and a one year high of $89.06. The firm has a market cap of $1.44 billion, a P/E ratio of 17.31 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. The business had revenue of $137.87 million for the quarter, compared to analyst estimates 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 period last year, the business posted $1.38 earnings per share. Equities analysts anticipate that Monarch Casino & Resort will post 4.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC grew its holdings in Monarch Casino & Resort by 518.8% during the third quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock worth $9,280,000 after purchasing an additional 98,153 shares during the period. Weiss Asset Management LP boosted its stake in shares of Monarch Casino & Resort by 1,289.7% during the 3rd quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock worth $6,279,000 after acquiring an additional 73,512 shares during the period. Millennium Management LLC boosted its stake in shares of Monarch Casino & Resort by 376.1% during the 2nd quarter. Millennium Management LLC now owns 85,869 shares of the company’s stock worth $5,850,000 after acquiring an additional 67,833 shares during the period. American Century Companies Inc. increased its holdings in shares of Monarch Casino & Resort by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after acquiring an additional 46,323 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in Monarch Casino & Resort in the 3rd quarter valued at $2,349,000. 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.