Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Consensus 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 currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $87.20.

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

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the transaction, the chief executive officer now owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 24.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MCRI. Fuller & Thaler Asset Management Inc. bought a new position in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $19,346,000. Jane Street Group LLC grew its stake in shares of Monarch Casino & Resort by 518.8% during the third quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after buying an additional 98,153 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Monarch Casino & Resort during the fourth quarter valued at approximately $6,118,000. Weiss Asset Management LP grew its stake in shares of Monarch Casino & Resort by 1,289.7% during the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock valued at $6,279,000 after buying an additional 73,512 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Monarch Casino & Resort by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock worth $72,488,000 after purchasing an additional 72,764 shares in the last quarter. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Up 0.0 %

NASDAQ:MCRI opened at $81.19 on Wednesday. The business’s 50-day simple moving average is $86.69 and its two-hundred day simple moving average is $82.12. The stock has a market cap of $1.50 billion, a PE ratio of 16.40 and a beta of 1.74. Monarch Casino & Resort has a 52 week low of $64.50 and a 52 week high of $96.11.

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