Monarch Casino & Resort (NASDAQ:MCRI) Price Target Raised to $77.00 at Stifel Nicolaus

Monarch Casino & Resort (NASDAQ:MCRI) had its price target hoisted by research analysts at Stifel Nicolaus from $72.00 to $77.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective points to a potential downside of 1.97% from the stock’s previous close.

A number of other analysts have also commented on MCRI. StockNews.com raised Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Monday. Truist Financial boosted their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Macquarie reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ:MCRI traded up $4.91 during midday trading on Thursday, reaching $78.55. The company’s stock had a trading volume of 43,115 shares, compared to its average volume of 123,132. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 18.41 and a beta of 1.73. The firm has a 50 day moving average price of $75.82 and a two-hundred day moving average price of $71.47. Monarch Casino & Resort has a fifty-two week low of $57.88 and a fifty-two week high of $80.22.

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

Institutional Trading of Monarch Casino & Resort

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCRI. Texas Permanent School Fund Corp lifted its stake in Monarch Casino & Resort by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 11,682 shares of the company’s stock valued at $876,000 after purchasing an additional 152 shares during the last quarter. Trust Point Inc. lifted its stake in Monarch Casino & Resort by 1.5% in the third quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock valued at $873,000 after purchasing an additional 162 shares during the last quarter. GAMMA Investing LLC lifted its stake in Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after purchasing an additional 178 shares during the last quarter. Pitcairn Co. lifted its position in shares of Monarch Casino & Resort by 4.3% during the first quarter. Pitcairn Co. now owns 5,698 shares of the company’s stock worth $427,000 after acquiring an additional 235 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Monarch Casino & Resort by 1.4% during the second quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock worth $1,342,000 after acquiring an additional 271 shares in the last quarter. 62.37% of the stock is 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.