Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Average Recommendation of “Moderate Buy” by Brokerages

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

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Monarch Casino & Resort in a report 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. Wells Fargo & Company raised their price target on shares of Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $112.00 price objective on shares of Monarch Casino & Resort in a report on Wednesday, December 24th.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 2,000 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $99.00, for a total transaction of $198,000.00. Following the completion of the sale, the chief executive officer owned 536,304 shares in the company, valued at approximately $53,094,096. This represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 25.52% of the company’s stock.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in shares of Monarch Casino & Resort by 26.1% in the 4th quarter. Hsbc Holdings PLC now owns 6,269 shares of the company’s stock worth $599,000 after acquiring an additional 1,299 shares in the last quarter. Aristides Capital LLC lifted its position in shares of Monarch Casino & Resort by 18.6% during the fourth quarter. Aristides Capital LLC now owns 3,174 shares of the company’s stock valued at $304,000 after purchasing an additional 498 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Monarch Casino & Resort by 2,489.3% during the fourth quarter. Pacer Advisors Inc. now owns 50,311 shares of the company’s stock worth $4,815,000 after purchasing an additional 48,368 shares during the last quarter. Invesco Ltd. boosted its holdings in Monarch Casino & Resort by 38.2% during the fourth quarter. Invesco Ltd. now owns 194,371 shares of the company’s stock worth $18,601,000 after purchasing an additional 53,745 shares during the last quarter. Finally, Vident Advisory LLC grew its position in Monarch Casino & Resort by 0.7% in the 4th quarter. Vident Advisory LLC now owns 30,535 shares of the company’s stock worth $2,922,000 after purchasing an additional 218 shares in the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Down 3.3%

Shares of NASDAQ:MCRI opened at $93.98 on Friday. Monarch Casino & Resort has a twelve month low of $69.99 and a twelve month high of $113.88. The stock’s 50 day moving average is $95.39 and its 200-day moving average is $96.43. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 17.31 and a beta of 1.29.

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

Monarch Casino & Resort Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. Monarch Casino & Resort’s payout ratio is presently 22.10%.

About Monarch Casino & Resort

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.