Brokerages Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) PT at $99.80

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $99.80.

A number of analysts have weighed in on MCRI shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monarch Casino & Resort in a research note on Monday, December 29th. Zacks Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Jefferies Financial Group reissued a “hold” rating and set a $112.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Finally, Wells Fargo & Company upped their price target on shares of Monarch Casino & Resort from $92.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $98.54 on Wednesday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 18.15 and a beta of 1.29. The stock has a 50 day moving average price of $94.22 and a 200-day moving average price of $97.04. Monarch Casino & Resort has a one year low of $69.99 and a one year high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.12). The firm had revenue of $140.00 million for the quarter, compared to the consensus estimate of $139.39 million. Monarch Casino & Resort had a net margin of 18.60% and a return on equity of 18.68%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. Sell-side analysts predict that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 1.2%. Monarch Casino & Resort’s payout ratio is 22.10%.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $100.63, for a total transaction of $100,630.00. Following the completion of the sale, the chief executive officer owned 553,110 shares in the company, valued at $55,659,459.30. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 25.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in shares of Monarch Casino & Resort by 199.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 329 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares during the last quarter. Osaic Holdings Inc. grew its holdings in Monarch Casino & Resort by 210.0% in the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after purchasing an additional 315 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Monarch Casino & Resort during the fourth quarter worth $40,000. USA Financial Formulas acquired a new position in shares of Monarch Casino & Resort during the third quarter worth $47,000. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Monarch Casino & Resort by 57.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 594 shares of the company’s stock valued at $63,000 after purchasing an additional 216 shares during the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.