Monarch Casino & Resort (NASDAQ:MCRI) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a hold rating to a buy rating in a research report sent to investors on Friday.

Several other equities research analysts also recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Macquarie restated a “neutral” rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Finally, Truist Financial cut their price objective on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Monarch Casino & Resort presently has a consensus rating of “Hold” and an average price target of $88.60.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ:MCRI opened at $87.18 on Friday. Monarch Casino & Resort has a 52-week low of $65.65 and a 52-week high of $96.11. The company has a market capitalization of $1.61 billion, a P/E ratio of 17.20 and a beta of 1.54. The company has a 50-day simple moving average of $82.06 and a 200 day simple moving average of $82.47.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. The firm had revenue of $125.39 million during the quarter, compared to the consensus estimate of $122.70 million. Monarch Casino & Resort had a net margin of 18.19% and a return on equity of 18.53%. As a group, equities analysts forecast that Monarch Casino & Resort will post 5.13 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. LPL Financial LLC increased its holdings in shares of Monarch Casino & Resort by 47.0% during the fourth quarter. LPL Financial LLC now owns 6,737 shares of the company’s stock worth $532,000 after purchasing an additional 2,155 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in shares of Monarch Casino & Resort during the fourth quarter worth approximately $1,516,000. Deutsche Bank AG increased its holdings in shares of Monarch Casino & Resort by 45.3% during the fourth quarter. Deutsche Bank AG now owns 11,160 shares of the company’s stock worth $881,000 after purchasing an additional 3,477 shares during the period. Ritholtz Wealth Management increased its holdings in shares of Monarch Casino & Resort by 524.9% during the first quarter. Ritholtz Wealth Management now owns 20,140 shares of the company’s stock worth $1,566,000 after purchasing an additional 16,917 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Monarch Casino & Resort by 9,017.4% during the first quarter. GAMMA Investing LLC now owns 50,693 shares of the company’s stock worth $3,941,000 after purchasing an additional 50,137 shares during the period. 62.37% of the stock is owned by institutional investors.

About Monarch Casino & Resort

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.