Brokerages Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Target Price at $93.20

Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) has been assigned a consensus rating of "Hold" from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $93.20.

MCRI has been the subject of several research reports. Macquarie reissued a "neutral" rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Truist Financial lifted their price objective on Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Stifel Nicolaus lifted their price objective on Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company raised Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $83.00 to $89.00 in a research note on Thursday, July 17th.

Monarch Casino & Resort Trading Down 1.0%

MCRI traded down $1.08 during midday trading on Tuesday, reaching $104.34. The company's stock had a trading volume of 208,321 shares, compared to its average volume of 167,312. The stock has a market cap of $1.93 billion, a P/E ratio of 19.61 and a beta of 1.54. The company has a fifty day simple moving average of $88.19 and a 200 day simple moving average of $84.44. Monarch Casino & Resort has a twelve month low of $69.99 and a twelve month high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.22. The company had revenue of $136.91 million during the quarter, compared to the consensus estimate of $129.76 million. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%. Sell-side analysts expect that Monarch Casino & Resort will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, August 29th. Monarch Casino & Resort's dividend payout ratio (DPR) is presently 22.56%.

Insider Activity

In other news, Director Craig F. Sullivan sold 12,200 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $105.55, for a total transaction of $1,287,710.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Farahi sold 2,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $105.78, for a total transaction of $211,560.00. Following the completion of the transaction, the chief executive officer owned 560,110 shares of the company's stock, valued at $59,248,435.80. This trade represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 25.52% of the company's stock.

Institutional Investors Weigh In On Monarch Casino & Resort

A number of institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Monarch Casino & Resort in the 4th quarter valued at $6,118,000. American Century Companies Inc. lifted its holdings in Monarch Casino & Resort by 9.3% during the 4th quarter. American Century Companies Inc. now owns 404,073 shares of the company's stock valued at $31,881,000 after buying an additional 34,384 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Monarch Casino & Resort by 13.9% in the 4th quarter. Sei Investments Co. now owns 21,837 shares of the company's stock valued at $1,723,000 after purchasing an additional 2,664 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Monarch Casino & Resort by 47.0% in the 4th quarter. LPL Financial LLC now owns 6,737 shares of the company's stock valued at $532,000 after purchasing an additional 2,155 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Monarch Casino & Resort by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company's stock worth $79,193,000 after acquiring an additional 9,234 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company's stock.

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.