Monarch Casino & Resort (NASDAQ:MCRI) Shares Gap Down to $69.57

Monarch Casino & Resort, Inc. (NASDAQ:MCRI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $69.57, but opened at $67.33. Monarch Casino & Resort shares last traded at $65.33, with a volume of 17,183 shares.

Analyst Ratings Changes

A number of research firms have recently issued reports on MCRI. Macquarie raised their price target on shares of Monarch Casino & Resort from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Thursday. Stifel Nicolaus restated a “hold” rating and issued a $70.00 price target on shares of Monarch Casino & Resort in a research report on Friday, January 5th. StockNews.com upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Finally, Truist Financial raised their price target on shares of Monarch Casino & Resort from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th.

Monarch Casino & Resort Stock Performance

The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 15.49 and a beta of 1.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.55 and a current ratio of 0.61. The company’s 50 day simple moving average is $70.83 and its 200 day simple moving average is $67.04.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.11). The business had revenue of $128.19 million during the quarter, compared to analyst estimates of $119.33 million. Monarch Casino & Resort had a return on equity of 17.41% and a net margin of 16.44%. On average, equities research analysts anticipate that Monarch Casino & Resort, Inc. will post 4.55 earnings per share for the current year.

Hedge Funds Weigh In On Monarch Casino & Resort

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Monarch Casino & Resort by 3.2% in the 2nd quarter. BlackRock Inc. now owns 2,337,231 shares of the company’s stock worth $164,658,000 after purchasing an additional 72,857 shares during the last quarter. DAVENPORT & Co LLC grew its stake in shares of Monarch Casino & Resort by 3.7% in the 4th quarter. DAVENPORT & Co LLC now owns 1,187,370 shares of the company’s stock worth $82,396,000 after purchasing an additional 42,235 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Monarch Casino & Resort by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 1,059,127 shares of the company’s stock worth $73,239,000 after purchasing an additional 33,849 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Monarch Casino & Resort by 3.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 841,840 shares of the company’s stock worth $52,278,000 after purchasing an additional 29,575 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Monarch Casino & Resort by 2.5% in the 2nd quarter. Macquarie Group Ltd. now owns 578,861 shares of the company’s stock worth $33,962,000 after purchasing an additional 14,291 shares during the last quarter. Institutional investors and hedge funds 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.