Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Consensus Recommendation of “Hold” by Analysts

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has received a consensus rating of “Hold” from the five analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $87.20.

MCRI has been the subject of several recent research reports. Stifel Nicolaus boosted their target price on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their target price for the company from $82.00 to $100.00 in a research report on Tuesday, January 14th. Jefferies Financial Group lifted their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company lifted their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a report on Wednesday, February 12th. Finally, StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th.

Monarch Casino & Resort Trading Down 2.9 %

Shares of NASDAQ MCRI opened at $81.34 on Wednesday. The firm has a 50 day moving average of $86.53 and a 200 day moving average of $81.99. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.43 and a beta of 1.74. Monarch Casino & Resort has a 12-month low of $64.50 and a 12-month high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $1.03 earnings per share. Sell-side analysts predict that Monarch Casino & Resort will post 5.13 EPS for the current year.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.94% of the company’s stock.

Hedge Funds Weigh In On Monarch Casino & Resort

Several hedge funds have recently modified their holdings of MCRI. Golden State Wealth Management LLC purchased a new stake in Monarch Casino & Resort during the fourth quarter valued at $53,000. KBC Group NV raised its stake in Monarch Casino & Resort by 67.8% during the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after purchasing an additional 396 shares in the last quarter. Independence Bank of Kentucky purchased a new stake in Monarch Casino & Resort during the fourth quarter valued at $93,000. Nisa Investment Advisors LLC raised its stake in Monarch Casino & Resort by 30.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock valued at $134,000 after purchasing an additional 400 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Monarch Casino & Resort during the fourth quarter valued at $169,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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.