Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $93.20.

A number of research analysts have weighed in on the stock. Truist Financial raised their target price on shares of Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Stifel Nicolaus lifted their price target on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Wall Street Zen raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th. Zacks Research lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Wells Fargo & Company raised shares of Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $83.00 to $89.00 in a research report on Thursday, July 17th.

Insider Activity at Monarch Casino & Resort

In other news, Director Craig F. Sullivan sold 12,200 shares of Monarch Casino & Resort stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $105.55, for a total transaction of $1,287,710.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $105.78, for a total transaction of $211,560.00. Following the completion of the sale, the chief executive officer owned 560,110 shares of the company’s stock, valued at $59,248,435.80. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. 25.52% of the stock is currently owned by insiders.

Institutional Trading of Monarch Casino & Resort

Institutional investors have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC increased its holdings in Monarch Casino & Resort by 72.6% in the 1st quarter. TD Private Client Wealth LLC now owns 378 shares of the company’s stock valued at $29,000 after purchasing an additional 159 shares during the last quarter. Parallel Advisors LLC increased its holdings in Monarch Casino & Resort by 51.2% in the 2nd quarter. Parallel Advisors LLC now owns 384 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares during the last quarter. Osaic Holdings Inc. increased its holdings in Monarch Casino & Resort by 210.0% in the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock valued at $40,000 after purchasing an additional 315 shares during the last quarter. Vestcor Inc acquired a new stake in Monarch Casino & Resort in the 1st quarter valued at approximately $58,000. Finally, GAMMA Investing LLC increased its holdings in Monarch Casino & Resort by 28.7% in the 2nd quarter. GAMMA Investing LLC now owns 839 shares of the company’s stock valued at $73,000 after purchasing an additional 187 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

MCRI opened at $103.70 on Friday. The company’s 50 day simple moving average is $102.54 and its two-hundred day simple moving average is $90.01. Monarch Casino & Resort has a 1-year low of $69.99 and a 1-year high of $113.88. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 19.49 and a beta of 1.49.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.22. Monarch Casino & Resort had a net margin of 18.70% and a return on equity of 18.99%. The business had revenue of $136.91 million for the quarter, compared to analyst estimates of $129.76 million. On average, equities analysts anticipate that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

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.