Monarch Casino & Resort (NASDAQ:MCRI) Lowered to “Strong Sell” at BidaskClub

Monarch Casino & Resort (NASDAQ:MCRI) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday, BidAskClub reports.

MCRI has been the subject of several other research reports. ValuEngine upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Zacks Investment Research cut shares of Monarch Casino & Resort from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 5th.

Shares of NASDAQ:MCRI traded up $0.04 during midday trading on Friday, reaching $43.43. 47,900 shares of the company’s stock were exchanged, compared to its average volume of 33,851. Monarch Casino & Resort has a 12 month low of $34.45 and a 12 month high of $48.71. The company’s 50 day simple moving average is $42.78 and its two-hundred day simple moving average is $43.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.75. The firm has a market capitalization of $784.58 million, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.08). Monarch Casino & Resort had a return on equity of 10.44% and a net margin of 13.32%. The business had revenue of $65.59 million for the quarter, compared to analyst estimates of $69.05 million. On average, research analysts anticipate that Monarch Casino & Resort will post 1.85 earnings per share for the current year.

In other news, President Bob Farahi sold 24,340 shares of Monarch Casino & Resort stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $45.08, for a total transaction of $1,097,247.20. Following the completion of the sale, the president now owns 380,066 shares in the company, valued at approximately $17,133,375.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 26.64% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MCRI. Intrinsic Edge Capital Management LLC acquired a new position in Monarch Casino & Resort during the second quarter valued at approximately $2,137,000. Cadence Capital Management LLC acquired a new position in Monarch Casino & Resort during the third quarter valued at approximately $1,944,000. Nuveen Asset Management LLC acquired a new position in Monarch Casino & Resort during the second quarter valued at approximately $1,860,000. Janus Henderson Group PLC grew its holdings in Monarch Casino & Resort by 8.6% during the second quarter. Janus Henderson Group PLC now owns 452,611 shares of the company’s stock valued at $19,345,000 after purchasing an additional 35,700 shares during the period. Finally, BlackRock Inc. grew its holdings in Monarch Casino & Resort by 1.2% during the second quarter. BlackRock Inc. now owns 1,785,371 shares of the company’s stock valued at $76,307,000 after purchasing an additional 21,835 shares during the period. Hedge funds and other institutional investors own 60.52% of the company’s stock.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of February 20, 2019, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.

Read More: Trading based on a resistance level

Receive News & Ratings for Monarch Casino & Resort Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monarch Casino & Resort and related companies with MarketBeat.com's FREE daily email newsletter.