Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives $84.00 Consensus Price Target from Brokerages

Monarch Casino & Resort, Inc. (NASDAQ:MCRIGet Free Report) has been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities 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 12 month price target among brokerages that have covered the stock in the last year is $84.00.

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company started coverage on Monarch Casino & Resort in a research note on Monday, December 16th. They issued an “underweight” rating and a $79.00 target price on the stock. Jefferies Financial Group upped their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Stifel Nicolaus boosted their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Truist Financial raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their price objective for the company from $82.00 to $100.00 in a research report on Tuesday, January 14th.

Read Our Latest Stock Analysis on Monarch Casino & Resort

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the sale, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at $41,059,477.20. The trade was a 0.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 24.94% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in Monarch Casino & Resort during the third quarter worth about $30,000. GAMMA Investing LLC increased its position in Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after purchasing an additional 178 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Monarch Casino & Resort in the fourth quarter valued at approximately $53,000. KBC Group NV lifted its position in Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after buying an additional 396 shares in the last quarter. Finally, Independence Bank of Kentucky purchased a new stake in Monarch Casino & Resort during the fourth quarter worth approximately $93,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Trading Down 0.3 %

Shares of MCRI opened at $85.88 on Tuesday. The company has a 50-day moving average of $82.47 and a two-hundred day moving average of $78.47. The stock has a market cap of $1.58 billion, a P/E ratio of 19.00 and a beta of 1.73. Monarch Casino & Resort has a 12-month low of $64.50 and a 12-month high of $89.06.

About Monarch Casino & Resort

(Get Free Report

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.

Read More

Analyst Recommendations for Monarch Casino & Resort (NASDAQ:MCRI)

Receive News & Ratings for Monarch Casino & Resort Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monarch Casino & Resort and related companies with MarketBeat.com's FREE daily email newsletter.