Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives $78.50 Average Price Target from Analysts

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has earned an average rating of “Reduce” from the five analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $80.40.

A number of equities analysts recently issued reports on the company. Stifel Nicolaus boosted 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. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial boosted their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group raised their target price on shares of 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, Wells Fargo & Company initiated coverage on Monarch Casino & Resort in a report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target for the company.

Insider Buying and Selling

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

Institutional Trading of Monarch Casino & Resort

Hedge funds have recently modified their holdings of the company. HighTower Advisors LLC bought a new position in shares of Monarch Casino & Resort during the 3rd quarter worth approximately $258,000. Barclays PLC increased its position in shares of Monarch Casino & Resort by 108.2% during the third quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after purchasing an additional 17,413 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Monarch Casino & Resort by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after purchasing an additional 46,323 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Monarch Casino & Resort by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after purchasing an additional 8,283 shares in the last quarter. Finally, Versor Investments LP purchased a new position in Monarch Casino & Resort during the 3rd quarter worth $230,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Trading Down 0.4 %

Shares of MCRI opened at $78.23 on Friday. Monarch Casino & Resort has a twelve month low of $64.50 and a twelve month high of $89.06. The company’s fifty day simple moving average is $82.09 and its 200-day simple moving average is $76.75. The company has a market cap of $1.44 billion, a P/E ratio of 17.31 and a beta of 1.73.

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