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

Key Points

• Brokerages have assigned Monarch Casino & Resort, Inc. (NASDAQ:MCRI) an average rating of "Hold", with one "buy" rating and a consensus target price of $93.20 over the next 12 months.
• The company exceeded earnings expectations, reporting $1.44 EPS for the quarter, surpassing analysts' estimates of $1.22, alongside revenue of $136.91 million.
• Significant insider activity was noted, including Director Craig F. Sullivan selling 12,200 shares at an average price of $105.55, totaling over $1.28 million.

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five research firms that are presently covering the company, 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 analysts that have issued a report on the stock in the last year is $93.20.

A number of equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Stifel Nicolaus boosted their price target on shares of Monarch Casino & Resort from $81.00 to $92.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Wells Fargo & Company raised shares of Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $83.00 to $89.00 in a report on Thursday, July 17th. Finally, Wall Street Zen raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating in a report on Sunday, July 13th.

Insider Buying and Selling at Monarch Casino & Resort

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 value of $1,287,710.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John Farahi sold 2,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $105.78, for a total transaction of $211,560.00. Following the completion of the sale, the chief executive officer owned 560,110 shares in the company, valued at $59,248,435.80. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders own 25.52% of the company's stock.

Institutional Investors Weigh In On Monarch Casino & Resort

Institutional investors and hedge funds have recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its stake in shares of Monarch Casino & Resort by 72.6% in the 1st quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock valued at $29,000 after purchasing an additional 159 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Monarch Casino & Resort by 51.2% in the 2nd quarter. Parallel Advisors LLC now owns 384 shares of the company's stock valued at $33,000 after purchasing an additional 130 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Monarch Casino & Resort by 210.0% in the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company's stock valued at $40,000 after purchasing an additional 315 shares in the last quarter. Vestcor Inc acquired a new stake in shares of Monarch Casino & Resort in the 1st quarter valued at $58,000. Finally, GAMMA Investing LLC boosted its stake in shares of Monarch Casino & Resort by 28.7% in the 2nd quarter. GAMMA Investing LLC now owns 839 shares of the company's stock valued at $73,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.

Monarch Casino & Resort Price Performance

MCRI stock traded down $0.67 on Wednesday, reaching $103.43. 11,456 shares of the company were exchanged, compared to its average volume of 109,628. Monarch Casino & Resort has a 12 month low of $69.99 and a 12 month high of $113.88. The stock's fifty day moving average price is $100.35 and its 200 day moving average price is $88.22. The firm has a market capitalization of $1.89 billion, a PE ratio of 19.44 and a beta of 1.49.

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

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.