Monarch Casino & Resort (NASDAQ:MCRI) Price Target Raised to $144.00 at Truist Financial

Monarch Casino & Resort (NASDAQ:MCRI) had its target price increased by Truist Financial from $125.00 to $144.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Monarch Casino & Resort from $99.00 to $116.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. Stifel Nicolaus boosted their target price on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Zacks Research lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Jefferies Financial Group restated a “hold” rating on shares of Monarch Casino & Resort in a report on Thursday, July 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monarch Casino & Resort in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $119.60.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $124.38 on Monday. Monarch Casino & Resort has a fifty-two week low of $88.13 and a fifty-two week high of $135.93. The stock’s 50-day moving average is $124.41 and its two-hundred day moving average is $107.60. The firm has a market cap of $2.21 billion, a P/E ratio of 21.08 and a beta of 1.29.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Monday, July 20th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.11. Monarch Casino & Resort had a return on equity of 19.98% and a net margin of 19.62%. As a group, research analysts expect that Monarch Casino & Resort will post 7.07 EPS for the current year.

Insider Activity at Monarch Casino & Resort

In other news, CEO John Farahi sold 5,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.84, for a total value of $604,200.00. Following the completion of the sale, the chief executive officer directly owned 616,556 shares in the company, valued at approximately $74,504,627.04. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its position in shares of Monarch Casino & Resort by 210.0% during the 2nd 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 in the 4th quarter valued at $40,000. GAMMA Investing LLC raised its stake in shares of Monarch Casino & Resort by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock valued at $94,000 after buying an additional 106 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Monarch Casino & Resort by 191.3% during the 1st quarter. Parallel Advisors LLC now owns 1,136 shares of the company’s stock worth $109,000 after acquiring an additional 746 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Monarch Casino & Resort by 69.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company’s stock worth $110,000 after acquiring an additional 524 shares during the period. Institutional investors own 62.37% of the company’s stock.

More Monarch Casino & Resort News

Here are the key news stories impacting Monarch Casino & Resort this week:

• Positive Sentiment: Monarch Casino beat Q2 earnings estimates, reporting $1.78 EPS versus consensus around $1.67-$1.75, which supports the stock. Article Title
• Positive Sentiment: Revenue rose 4.2% year over year to $142.6 million, while net income increased 20.4% and adjusted EBITDA improved, showing the business is still growing. Article Title
• Positive Sentiment: The company declared a quarterly cash dividend of $0.30 per share, reinforcing its capital-return story and healthy cash generation. Article Title
• Positive Sentiment: Truist raised its price target on MCRI to $144 from $125 and kept a buy rating, adding to bullish sentiment ahead of the earnings release. Article Title
• Neutral Sentiment: Some pre-earnings commentary focused on slower expected revenue growth and valuation concerns, but those worries were eased by the stronger-than-expected quarterly report. Article Title
• Negative Sentiment: Monarch still faces ongoing construction litigation tied to its Black Hawk property, including a large judgment in favor of its contractor, which remains a risk factor for investors. Article Title

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.