Analysts Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) PT at $93.20

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been given a consensus recommendation of “Hold” by the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $93.20.

MCRI has been the topic of several analyst 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. Stifel Nicolaus lifted their target price on Monarch Casino & Resort from $81.00 to $92.00 and gave the company a “hold” rating in a research report on Thursday, July 17th. Truist Financial boosted their price objective on Monarch Casino & Resort from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th. Finally, Wells Fargo & Company upgraded Monarch Casino & Resort from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $83.00 to $89.00 in a research report on Thursday, July 17th.

Insider Buying and Selling

In related news, CEO John Farahi sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $105.78, for a total value of $211,560.00. Following the transaction, the chief executive officer owned 560,110 shares of the company’s stock, valued at $59,248,435.80. This represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig F. Sullivan sold 12,200 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $105.55, for a total value of $1,287,710.00. The disclosure for this sale can be found here. Corporate insiders own 25.52% of the company’s stock.

Institutional Trading of Monarch Casino & Resort

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of Monarch Casino & Resort in the 4th quarter valued at $6,118,000. American Century Companies Inc. lifted its holdings in shares of Monarch Casino & Resort by 9.3% during the 4th quarter. American Century Companies Inc. now owns 404,073 shares of the company’s stock valued at $31,881,000 after purchasing an additional 34,384 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Monarch Casino & Resort by 13.9% during the 4th quarter. Sei Investments Co. now owns 21,837 shares of the company’s stock valued at $1,723,000 after purchasing an additional 2,664 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of 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 purchasing an additional 2,155 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Monarch Casino & Resort by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company’s stock valued at $79,193,000 after purchasing an additional 9,234 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Trading Down 2.6%

Monarch Casino & Resort stock opened at $105.42 on Tuesday. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 19.82 and a beta of 1.54. The stock has a fifty day simple moving average of $87.76 and a two-hundred day simple moving average of $84.26. Monarch Casino & Resort has a 12 month low of $67.14 and a 12 month high of $113.88.

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

Monarch Casino & Resort Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. Monarch Casino & Resort’s dividend payout ratio (DPR) is presently 22.56%.

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.