Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Consensus Recommendation of “Reduce” by Analysts

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has earned a consensus rating of “Reduce” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $80.40.

A number of analysts have commented on the company. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Stifel Nicolaus increased their target price on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Wells Fargo & Company initiated coverage on shares of Monarch Casino & Resort in a report on Monday, December 16th. They set an “underweight” rating and a $79.00 price target on the stock. Jefferies Financial Group increased their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Finally, Truist Financial lifted their target price on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd.

Insider Activity at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the sale, the chief executive officer now directly owns 528,436 shares in the company, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Monarch Casino & Resort

A number of large investors have recently added to or reduced their stakes in the company. Trust Point Inc. grew its holdings in shares of Monarch Casino & Resort by 1.5% in the third quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock valued at $873,000 after purchasing an additional 162 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after buying an additional 178 shares during the last quarter. Sei Investments Co. raised its position in shares of Monarch Casino & Resort by 1.4% during the 2nd quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock valued at $1,342,000 after buying an additional 271 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of Monarch Casino & Resort in the 3rd quarter valued at about $30,000. Finally, Franklin Resources Inc. grew its position in Monarch Casino & Resort by 7.3% in the third quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock worth $665,000 after acquiring an additional 597 shares in the last quarter. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Down 0.4 %

NASDAQ MCRI opened at $78.23 on Friday. The company has a 50-day moving average price of $82.09 and a 200-day moving average price of $76.75. Monarch Casino & Resort has a 52 week low of $64.50 and a 52 week high of $89.06. The firm has a market capitalization of $1.44 billion, a P/E ratio of 17.31 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The business had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. During the same period last year, the firm earned $1.38 earnings per share. As a group, equities research analysts anticipate that Monarch Casino & Resort will post 4.72 EPS for the current year.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.