Monarch Casino & Resort (NASDAQ:MCRI) Trading Down 3.7% – Time to Sell?

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) traded down 3.7% during trading on Monday . The stock traded as low as $82.14 and last traded at $81.91. 78,723 shares were traded during trading, a decline of 28% from the average session volume of 109,258 shares. The stock had previously closed at $85.02.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. 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 report on Wednesday, February 12th. 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 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 report on Friday, January 3rd. Finally, Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their target price for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Monarch Casino & Resort presently has an average rating of “Hold” and an average price target of $87.20.

Monarch Casino & Resort Trading Down 1.6 %

The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 16.87 and a beta of 1.74. The stock’s 50 day moving average is $86.36 and its two-hundred day moving average is $81.89.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly 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 quarter in the previous year, the company posted $1.03 earnings per share. On average, sell-side analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Monarch Casino & Resort

A number of large investors have recently bought and sold shares of MCRI. Golden State Wealth Management LLC purchased a new position in shares of Monarch Casino & Resort in the 4th quarter valued at about $53,000. KBC Group NV increased its holdings in shares of Monarch Casino & Resort by 67.8% in the 4th 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 position in shares of Monarch Casino & Resort in the 4th quarter valued at about $93,000. Nisa Investment Advisors LLC increased its holdings in shares of Monarch Casino & Resort by 30.9% in the 4th 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 position in shares of Monarch Casino & Resort in the 4th quarter valued at about $169,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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.