Monarch Casino & Resort (NASDAQ:MCRI) Raised to “Buy” at Wall Street Zen

Monarch Casino & Resort (NASDAQ:MCRI) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

MCRI has been the subject of several other research reports. Macquarie reiterated a “neutral” rating and set a $92.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Truist Financial cut their target price on Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus cut their target price on Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.60.

Monarch Casino & Resort Stock Up 1.0%

Shares of MCRI opened at $87.18 on Friday. The business has a 50-day simple moving average of $82.06 and a two-hundred day simple moving average of $82.44. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 17.20 and a beta of 1.54. Monarch Casino & Resort has a 52 week low of $65.65 and a 52 week high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.53% and a net margin of 18.19%. The firm had revenue of $125.39 million during the quarter, compared to analysts’ expectations of $122.70 million. On average, equities analysts anticipate that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monarch Casino & Resort

Institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in Monarch Casino & Resort by 47.0% during the 4th quarter. LPL Financial LLC now owns 6,737 shares of the company’s stock valued at $532,000 after buying an additional 2,155 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in Monarch Casino & Resort during the 4th quarter valued at approximately $1,516,000. Deutsche Bank AG grew its holdings in Monarch Casino & Resort by 45.3% during the 4th quarter. Deutsche Bank AG now owns 11,160 shares of the company’s stock valued at $881,000 after buying an additional 3,477 shares in the last quarter. Ritholtz Wealth Management grew its holdings in Monarch Casino & Resort by 524.9% during the 1st quarter. Ritholtz Wealth Management now owns 20,140 shares of the company’s stock valued at $1,566,000 after buying an additional 16,917 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Monarch Casino & Resort by 9,017.4% during the 1st quarter. GAMMA Investing LLC now owns 50,693 shares of the company’s stock valued at $3,941,000 after buying an additional 50,137 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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.