Monarch Casino & Resort (NASDAQ:MCRI) PT Raised to $76.00

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective increased by Macquarie from $75.00 to $76.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on the company. StockNews.com raised Monarch Casino & Resort from a hold rating to a buy rating in a research note on Saturday, March 9th. Stifel Nicolaus reaffirmed a hold rating and issued a $70.00 target price on shares of Monarch Casino & Resort in a research note on Friday, January 5th. Finally, Truist Financial raised their target price on Monarch Casino & Resort from $72.00 to $74.00 and gave the stock a hold rating in a research note on Thursday, February 15th.

Monarch Casino & Resort Trading Down 4.4 %

Shares of MCRI stock opened at $66.54 on Thursday. The stock has a 50 day simple moving average of $70.75 and a 200-day simple moving average of $67.04. Monarch Casino & Resort has a 1-year low of $56.25 and a 1-year high of $77.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.61 and a quick ratio of 0.55. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 15.73 and a beta of 1.66.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.93 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.11). Monarch Casino & Resort had a net margin of 16.40% and a return on equity of 17.22%. The firm had revenue of $128.19 million during the quarter, compared to analyst estimates of $119.33 million. On average, equities research analysts expect that Monarch Casino & Resort will post 4.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Monarch Casino & Resort

Hedge funds have recently modified their holdings of the business. State of Wyoming purchased a new position in shares of Monarch Casino & Resort during the 4th quarter worth $28,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Monarch Casino & Resort by 40.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 637 shares of the company’s stock worth $40,000 after purchasing an additional 184 shares during the period. UBS Group AG grew its holdings in shares of Monarch Casino & Resort by 214.2% during the 3rd quarter. UBS Group AG now owns 1,458 shares of the company’s stock worth $82,000 after purchasing an additional 994 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Monarch Casino & Resort during the 4th quarter valued at about $108,000. Finally, Captrust Financial Advisors boosted its holdings in Monarch Casino & Resort by 30.0% during the 1st quarter. Captrust Financial Advisors now owns 1,593 shares of the company’s stock valued at $139,000 after acquiring an additional 368 shares during the period. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

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.