Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Average Rating of “Hold” by Brokerages

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been assigned an average rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research 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 twelve-month price objective among brokerages that have covered the stock in the last year is $87.20.

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

Monarch Casino & Resort Trading Down 3.4 %

Shares of NASDAQ MCRI opened at $89.40 on Friday. The firm has a market cap of $1.64 billion, a PE ratio of 18.06 and a beta of 1.74. Monarch Casino & Resort has a 1-year low of $64.50 and a 1-year high of $96.11. The company has a fifty day moving average price of $83.60 and a 200 day moving average price of $80.29.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same period last year, the firm posted $1.03 earnings per share. Equities research analysts forecast that Monarch Casino & Resort will post 5.13 EPS for the current year.

Insider Activity

In other news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the sale, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MCRI. Fuller & Thaler Asset Management Inc. bought a new position in Monarch Casino & Resort in the 4th quarter valued at about $19,346,000. Jane Street Group LLC raised its holdings in Monarch Casino & Resort by 518.8% in the 3rd quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after acquiring an additional 98,153 shares during the period. Raymond James Financial Inc. bought a new position in Monarch Casino & Resort in the 4th quarter valued at about $6,118,000. Weiss Asset Management LP raised its holdings in Monarch Casino & Resort by 1,289.7% in the 3rd quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock valued at $6,279,000 after acquiring an additional 73,512 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Monarch Casino & Resort by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock valued at $72,488,000 after acquiring an additional 72,764 shares during the period. 62.37% of the stock is owned by institutional investors.

About Monarch Casino & Resort

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.