Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Consensus Recommendation of "Hold" from Analysts

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

A number of analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Macquarie reiterated a "neutral" rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Truist Financial cut their target price on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a report on Friday.

Institutional Investors Weigh In On Monarch Casino & Resort

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. acquired a new position in Monarch Casino & Resort during the 4th quarter valued at $19,346,000. Invesco Ltd. increased its holdings in shares of Monarch Casino & Resort by 147.1% during the 1st quarter. Invesco Ltd. now owns 222,770 shares of the company's stock worth $17,320,000 after purchasing an additional 132,599 shares during the period. Nuveen LLC acquired a new position in shares of Monarch Casino & Resort during the first quarter valued at about $9,872,000. Raymond James Financial Inc. acquired a new position in shares of Monarch Casino & Resort during the fourth quarter valued at about $6,118,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Monarch Casino & Resort in the first quarter valued at about $5,904,000. Institutional investors and hedge funds own 62.37% of the company's stock.

Monarch Casino & Resort Stock Performance

Shares of MCRI traded down $0.74 during trading hours on Friday, hitting $86.44. 99,788 shares of the company were exchanged, compared to its average volume of 108,009. The company has a market cap of $1.60 billion, a PE ratio of 17.05 and a beta of 1.54. The firm's 50 day moving average is $82.31 and its 200-day moving average is $82.40. Monarch Casino & Resort has a 52 week low of $65.65 and a 52 week high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.01. The firm had revenue of $125.39 million during the quarter, compared to analyst estimates 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 analysts forecast that Monarch Casino & Resort will post 5.13 earnings per share 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.