StockNews.com Downgrades Monarch Casino & Resort (NASDAQ:MCRI) to Buy

Monarch Casino & Resort (NASDAQ:MCRI) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

MCRI has been the topic of several other reports. Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their price target for the company from $82.00 to $100.00 in a research note on Tuesday, January 14th. Wells Fargo & Company started coverage on shares of Monarch Casino & Resort in a research report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target for the company. Jefferies Financial Group increased their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Finally, Stifel Nicolaus lifted their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $84.00.

Monarch Casino & Resort Price Performance

Shares of NASDAQ MCRI opened at $86.44 on Tuesday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 19.12 and a beta of 1.74. The stock’s fifty day moving average price is $82.52 and its two-hundred day moving average price is $78.96. Monarch Casino & Resort has a one year low of $64.50 and a one year high of $89.06.

Insider Buying and Selling at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort 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 transaction, the chief executive officer now owns 528,436 shares in the company, valued at $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 24.94% of the company’s stock.

Institutional Investors Weigh In On Monarch Casino & Resort

Several hedge funds and other institutional investors have recently made changes to their positions in MCRI. Trust Point Inc. grew its stake in shares of Monarch Casino & Resort by 1.5% during the third quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock worth $873,000 after buying an additional 162 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after acquiring an additional 178 shares in the last quarter. Heritage Family Offices LLP grew its position in Monarch Casino & Resort by 7.0% during the 4th quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock worth $236,000 after acquiring an additional 196 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Monarch Casino & Resort by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 24,706 shares of the company’s stock worth $1,949,000 after purchasing an additional 210 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Monarch Casino & Resort by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company’s stock valued at $785,000 after purchasing an additional 250 shares during the last quarter. 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.