Monarch Casino & Resort (NASDAQ:MCRI) Downgraded by StockNews.com to Buy

Monarch Casino & Resort (NASDAQ:MCRI) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Monarch Casino & Resort Price Performance

Shares of NASDAQ MCRI opened at $66.81 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.51 and a current ratio of 0.58. The firm has a fifty day moving average of $69.20 and a 200 day moving average of $70.91. The firm has a market cap of $1.28 billion, a PE ratio of 14.56 and a beta of 1.65. Monarch Casino & Resort has a one year low of $54.21 and a one year high of $85.67.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, July 19th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.04). Monarch Casino & Resort had a net margin of 18.20% and a return on equity of 18.01%. The company had revenue of $123.68 million during the quarter, compared to analyst estimates of $123.57 million. During the same quarter last year, the business earned $1.11 EPS. As a group, research analysts predict that Monarch Casino & Resort will post 4.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Monarch Casino & Resort

Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System lifted its stake in shares of Monarch Casino & Resort by 3.9% in the fourth quarter. Arizona State Retirement System now owns 3,997 shares of the company’s stock worth $307,000 after buying an additional 150 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Monarch Casino & Resort by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,553 shares of the company’s stock worth $391,000 after purchasing an additional 162 shares in the last quarter. Credit Suisse AG boosted its holdings in shares of Monarch Casino & Resort by 1.0% during the 4th quarter. Credit Suisse AG now owns 18,228 shares of the company’s stock worth $1,402,000 after purchasing an additional 177 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Monarch Casino & Resort by 0.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 36,495 shares of the company’s stock valued at $3,183,000 after purchasing an additional 185 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Monarch Casino & Resort by 0.6% in the second quarter. Legal & General Group Plc now owns 31,231 shares of the company’s stock valued at $1,832,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 61.92% 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 and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was founded in 1972 and is based in Reno, Nevada.