Wall Street Zen Downgrades Monarch Casino & Resort (NASDAQ:MCRI) to Hold

Monarch Casino & Resort (NASDAQ:MCRI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other analysts also recently issued reports about the company. Stifel Nicolaus cut their price objective on 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 reiterated a “neutral” rating and set a $92.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Finally, Truist Financial cut their price target on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $88.60.

Monarch Casino & Resort Trading Up 0.2%

Shares of NASDAQ:MCRI opened at $89.63 on Friday. The business has a 50-day moving average price of $83.29 and a 200 day moving average price of $82.59. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 17.68 and a beta of 1.54. Monarch Casino & Resort has a 12-month low of $65.94 and a 12-month high of $96.11.

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 analysts’ consensus estimates 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 return on equity of 18.53% and a net margin of 18.19%. As a group, equities research analysts predict that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

Institutional Trading of Monarch Casino & Resort

A number of institutional investors and hedge funds have recently bought and sold shares of MCRI. Charles Schwab Investment Management Inc. increased its stake in Monarch Casino & Resort by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 118,512 shares of the company’s stock worth $9,351,000 after purchasing an additional 5,674 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Monarch Casino & Resort during the fourth quarter worth approximately $6,118,000. AlphaQuest LLC purchased a new stake in shares of Monarch Casino & Resort during the fourth quarter worth approximately $689,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Monarch Casino & Resort by 32.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,242 shares of the company’s stock worth $808,000 after buying an additional 2,506 shares during the period. Finally, Royce & Associates LP increased its stake in shares of Monarch Casino & Resort by 4.4% during the fourth quarter. Royce & Associates LP now owns 19,595 shares of the company’s stock worth $1,546,000 after buying an additional 825 shares during the period. 62.37% of the stock is currently owned by hedge funds and other 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.