Monarch Casino & Resort (NASDAQ:MCRI) Upgraded to “Strong-Buy” by 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 to clients and investors on Monday.

Several other equities research analysts have also issued reports on MCRI. Truist Financial lifted their target price on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Macquarie reiterated a “neutral” rating and set a $76.00 target price on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Trading Down 0.1 %

Shares of NASDAQ:MCRI opened at $73.76 on Monday. The company has a 50 day moving average of $75.81 and a 200 day moving average of $71.45. The stock has a market cap of $1.38 billion, a P/E ratio of 17.44 and a beta of 1.73. Monarch Casino & Resort has a 12 month low of $57.88 and a 12 month high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. The company had revenue of $128.14 million during the quarter, compared to analysts’ expectations of $126.03 million. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. On average, equities analysts forecast that Monarch Casino & Resort will post 4.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monarch Casino & Resort

A number of hedge funds have recently made changes to their positions in the business. Texas Permanent School Fund Corp lifted its holdings in shares of Monarch Casino & Resort by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 11,682 shares of the company’s stock worth $876,000 after acquiring an additional 152 shares during the last quarter. Trust Point Inc. lifted its holdings in shares of Monarch Casino & Resort by 1.5% in the 3rd quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock worth $873,000 after acquiring an additional 162 shares during the last quarter. GAMMA Investing LLC raised its holdings in Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after buying an additional 178 shares during the last quarter. Pitcairn Co. raised its holdings in Monarch Casino & Resort by 4.3% during the 1st quarter. Pitcairn Co. now owns 5,698 shares of the company’s stock valued at $427,000 after buying an additional 235 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Monarch Casino & Resort by 1.4% during the 2nd quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock valued at $1,342,000 after buying an additional 271 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors.

About Monarch Casino & Resort

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.