Monarch Casino & Resort (NASDAQ:MCRI) Upgraded at Truist Financial

Truist Financial upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a hold rating to a buy rating in a research report released on Tuesday morning, MarketBeat reports. Truist Financial currently has $100.00 price objective on the stock, up from their prior price objective of $82.00.

A number of other research analysts have also recently commented on the company. Jefferies Financial Group upped their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. StockNews.com upgraded Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 9th. 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. Finally, Wells Fargo & Company assumed coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Monarch Casino & Resort presently has an average rating of “Hold” and a consensus target price of $84.00.

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI opened at $83.77 on Tuesday. The firm has a market capitalization of $1.54 billion, a PE ratio of 18.53 and a beta of 1.73. The stock’s fifty day moving average is $82.20 and its 200 day moving average is $77.25. Monarch Casino & Resort has a fifty-two week low of $64.50 and a fifty-two week high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.10. The firm had revenue of $137.87 million during 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 quarter last year, the business earned $1.38 EPS. Equities analysts forecast that Monarch Casino & Resort will post 4.73 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its position in Monarch Casino & Resort by 0.9% during the third quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock valued at $30,809,000 after purchasing an additional 3,488 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Monarch Casino & Resort by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after buying an additional 46,323 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Monarch Casino & Resort by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after buying an additional 8,283 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Monarch Casino & Resort by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock worth $11,949,000 after acquiring an additional 9,990 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Monarch Casino & Resort by 1.1% during the 3rd quarter. FMR LLC now owns 134,098 shares of the company’s stock worth $10,630,000 after acquiring an additional 1,396 shares in the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

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.