Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) has been assigned an average recommendation of "Hold" from the five ratings firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $93.20.
Several brokerages have recently commented on MCRI. Stifel Nicolaus lifted their target price on Monarch Casino & Resort from $81.00 to $92.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Macquarie reiterated a "neutral" rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, April 23rd. Wells Fargo & Company upgraded Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $83.00 to $89.00 in a research report on Thursday, July 17th. Finally, Truist Financial lifted their target price on Monarch Casino & Resort from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th.
Read Our Latest Stock Analysis on MCRI
Insider Activity at Monarch Casino & Resort
In related news, Director Craig F. Sullivan sold 12,200 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was 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 accessible through the SEC website. Also, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $105.78, for a total value of $211,560.00. Following the sale, the chief executive officer directly owned 560,110 shares in the company, valued at $59,248,435.80. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 25.52% of the company's stock.
Institutional Trading of Monarch Casino & Resort
Hedge funds and other institutional investors have recently modified their holdings of the company. TD Private Client Wealth LLC grew its holdings in shares of Monarch Casino & Resort by 72.6% during the first quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock valued at $29,000 after buying an additional 159 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Monarch Casino & Resort by 51.2% during the second quarter. Parallel Advisors LLC now owns 384 shares of the company's stock valued at $33,000 after buying an additional 130 shares in the last quarter. Vestcor Inc purchased a new position in shares of Monarch Casino & Resort during the first quarter valued at $58,000. GAMMA Investing LLC grew its holdings in shares of Monarch Casino & Resort by 28.7% during the second quarter. GAMMA Investing LLC now owns 839 shares of the company's stock valued at $73,000 after buying an additional 187 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Monarch Casino & Resort by 45.3% during the first quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company's stock valued at $89,000 after buying an additional 355 shares in the last quarter. Institutional investors own 62.37% of the company's stock.
Monarch Casino & Resort Trading Up 0.1%
Shares of Monarch Casino & Resort stock traded up $0.11 during trading hours on Friday, reaching $101.12. The stock had a trading volume of 62,969 shares, compared to its average volume of 109,437. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 19.01 and a beta of 1.56. Monarch Casino & Resort has a 1 year low of $69.99 and a 1 year high of $113.88. The firm has a 50 day simple moving average of $94.39 and a two-hundred day simple moving average of $86.62.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.22 by $0.22. Monarch Casino & Resort had a return on equity of 18.99% and a net margin of 18.70%.The business had revenue of $136.91 million for the quarter, compared to the consensus estimate of $129.76 million. Sell-side analysts forecast that Monarch Casino & Resort will post 5.13 EPS for the current year.
About Monarch Casino & Resort
(
Get Free Report)
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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