Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Consensus Rating of "Hold" by Brokerages

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) have earned a consensus rating of "Hold" from the five brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $88.60.

A number of analysts recently weighed in on MCRI shares. Macquarie reaffirmed a "neutral" rating and set a $92.00 price target on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Stifel Nicolaus decreased their price target 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. Wall Street Zen raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Truist Financial lowered their price target on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd.

Institutional Trading of Monarch Casino & Resort

Several hedge funds have recently bought and sold shares of MCRI. Fuller & Thaler Asset Management Inc. bought a new stake in Monarch Casino & Resort in the 4th quarter valued at about $19,346,000. Invesco Ltd. increased its position in shares of Monarch Casino & Resort by 147.1% in the first quarter. Invesco Ltd. now owns 222,770 shares of the company's stock worth $17,320,000 after acquiring an additional 132,599 shares in the last quarter. Nuveen LLC purchased a new position in shares of Monarch Casino & Resort in the first quarter worth approximately $9,872,000. Raymond James Financial Inc. acquired a new stake in shares of Monarch Casino & Resort during the fourth quarter worth approximately $6,118,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Monarch Casino & Resort in the first quarter valued at approximately $5,904,000. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock opened at $86.28 on Friday. Monarch Casino & Resort has a one year low of $65.65 and a one year high of $96.11. The company has a 50 day moving average price of $81.83 and a 200 day moving average price of $82.47. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 17.02 and a beta of 1.54.

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

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.

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