Analysts Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) PT at $87.20

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has received a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $87.20.

A number of research firms have recently issued reports on MCRI. Truist Financial raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and increased their price objective for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Stifel Nicolaus upped their target price on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Jefferies Financial Group lifted their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a report on Wednesday, February 12th.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock opened at $75.63 on Friday. Monarch Casino & Resort has a fifty-two week low of $64.50 and a fifty-two week high of $96.11. The stock has a 50 day simple moving average of $83.31 and a two-hundred day simple moving average of $82.02. The company has a market cap of $1.40 billion, a P/E ratio of 15.28 and a beta of 1.57.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. During the same period last year, the company posted $1.03 earnings per share. On average, research analysts predict that Monarch Casino & Resort will post 5.13 earnings per share for the current year.

Hedge Funds Weigh In On Monarch Casino & Resort

Several large investors have recently bought and sold shares of MCRI. Golden State Wealth Management LLC purchased a new stake in shares of Monarch Casino & Resort in the fourth quarter valued at about $53,000. KBC Group NV increased its stake in Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after buying an additional 396 shares during the last quarter. Independence Bank of Kentucky bought a new position in shares of Monarch Casino & Resort during the 4th quarter worth approximately $93,000. Nisa Investment Advisors LLC boosted its stake in shares of Monarch Casino & Resort by 30.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after buying an additional 400 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Monarch Casino & Resort in the fourth quarter valued at approximately $169,000. 62.37% of the stock is currently owned by institutional investors.

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.