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

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been given a consensus rating of “Hold” by the five analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $88.60.

MCRI has been the topic of several recent research reports. Truist Financial lowered their target price on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Macquarie restated a “neutral” rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Stifel Nicolaus cut their price target on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Friday. Finally, Wells Fargo & Company upped their target price on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a report on Wednesday, February 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MCRI. Rhumbline Advisers lifted its stake in shares of Monarch Casino & Resort by 1.1% during the 1st quarter. Rhumbline Advisers now owns 29,525 shares of the company’s stock valued at $2,296,000 after buying an additional 322 shares in the last quarter. Strs Ohio bought a new stake in Monarch Casino & Resort in the 1st quarter worth $606,000. Acadian Asset Management LLC grew 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 acquiring an additional 453 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Monarch Casino & Resort by 12.2% in the 1st quarter. Jane Street Group LLC now owns 156,346 shares of the company’s stock worth $12,156,000 after purchasing an additional 17,027 shares during the period. Finally, Petrus Trust Company LTA purchased a new stake in shares of Monarch Casino & Resort in the 1st quarter worth about $217,000. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock opened at $83.85 on Monday. The firm has a 50-day moving average of $78.55 and a 200-day moving average of $82.44. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 16.94 and a beta of 1.59. Monarch Casino & Resort has a one year low of $65.65 and a one year high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. The company had revenue of $125.39 million for the quarter, compared to analysts’ expectations of $122.70 million. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. As a group, sell-side analysts expect that Monarch Casino & Resort will post 5.13 earnings per share for the current 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.