Monarch Casino & Resort (NASDAQ:MCRI) Stock Rating Lowered by Wall Street Zen

Wall Street Zen lowered shares of Monarch Casino & Resort (NASDAQ:MCRI) from a buy rating to a hold rating in a research note released on Thursday.

A number of other equities research analysts have also issued reports on MCRI. Truist Financial decreased their price target on Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Macquarie reiterated a “neutral” rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Stifel Nicolaus dropped their target price on Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $88.60.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI opened at $81.71 on Thursday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 16.51 and a beta of 1.59. Monarch Casino & Resort has a 1 year low of $64.58 and a 1 year high of $96.11. The business has a 50 day simple moving average of $78.33 and a 200-day simple moving average of $82.42.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. The business had revenue of $125.39 million during the quarter, compared to analyst estimates of $122.70 million. As a group, analysts expect that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monarch Casino & Resort

Several institutional investors and hedge funds have recently modified their holdings of MCRI. Acadian Asset Management LLC raised its holdings in Monarch Casino & Resort by 1.0% in the 1st quarter. Acadian Asset Management LLC now owns 44,537 shares of the company’s stock worth $3,459,000 after purchasing an additional 453 shares during the period. Jane Street Group LLC grew its position in shares of Monarch Casino & Resort by 12.2% in the first quarter. Jane Street Group LLC now owns 156,346 shares of the company’s stock valued at $12,156,000 after purchasing an additional 17,027 shares in the last quarter. Petrus Trust Company LTA purchased a new stake in shares of Monarch Casino & Resort in the first quarter valued at approximately $217,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Monarch Casino & Resort by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,618 shares of the company’s stock worth $592,000 after acquiring an additional 316 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Monarch Casino & Resort in the first quarter worth approximately $5,904,000. Institutional investors and hedge funds 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.