Monarch Casino & Resort (NASDAQ:MCRI) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a buy rating to a strong-buy rating in a research report released on Thursday.

MCRI has been the subject of several other research reports. Stifel Nicolaus upped their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Truist Financial upped their target price on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd.

Monarch Casino & Resort Trading Up 0.0 %

NASDAQ:MCRI opened at $84.01 on Thursday. The company has a market cap of $1.54 billion, a PE ratio of 18.59 and a beta of 1.73. The company has a 50 day simple moving average of $79.58 and a two-hundred day simple moving average of $73.91. Monarch Casino & Resort has a 12 month low of $62.03 and a 12 month high of $86.68.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The company had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. During the same quarter in the previous year, the company posted $1.38 earnings per share. Research analysts forecast that Monarch Casino & Resort will post 4.72 earnings per share for the current year.

Institutional Trading of Monarch Casino & Resort

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Manning & Napier Advisors LLC purchased a new stake in Monarch Casino & Resort in the 2nd quarter worth approximately $3,307,000. SG Americas Securities LLC purchased a new stake in shares of Monarch Casino & Resort in the second quarter worth $751,000. Westwood Holdings Group Inc. bought a new stake in shares of Monarch Casino & Resort during the 1st quarter valued at $2,822,000. American Century Companies Inc. lifted its stake in shares of Monarch Casino & Resort by 17.3% during 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. Finally, Versor Investments LP bought a new position in Monarch Casino & Resort in the 3rd quarter worth $230,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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.