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

Key Points

• Monarch Casino & Resort, Inc. has received a consensus rating of "Hold" from five analysts, with 4 holding and 1 buying recommendation, and an average 1-year target price of $93.20.
• Significant recent insider trading includes Director Craig F. Sullivan selling 12,200 shares at an average price of $105.55, and CEO John Farahi selling 2,000 shares at $105.78.
• Monarch Casino's latest earnings report showed $1.44 earnings per share, beating estimates by $0.22, with revenues of $136.91 million for the quarter.

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) have received an average rating of "Hold" from the five analysts that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $93.20.

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

Monarch Casino & Resort Price Performance

Monarch Casino & Resort stock traded down $0.67 during mid-day trading on Wednesday, reaching $103.43. The company had a trading volume of 11,456 shares, compared to its average volume of 109,628. Monarch Casino & Resort has a 1 year low of $69.99 and a 1 year high of $113.88. The company has a market capitalization of $1.89 billion, a P/E ratio of 19.44 and a beta of 1.49. The stock's 50-day simple moving average is $100.35 and its 200-day simple moving average is $88.22.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $136.91 million during the quarter, compared to analysts' expectations of $129.76 million. On average, equities analysts forecast that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

Insider Buying and Selling

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 shares were sold at an average price of $105.55, for a total transaction of $1,287,710.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Farahi sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $105.78, for a total transaction of $211,560.00. Following the sale, the chief executive officer owned 560,110 shares in the company, valued at approximately $59,248,435.80. This trade represents 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 have recently bought and sold shares of the company. TD Private Client Wealth LLC boosted its position in Monarch Casino & Resort by 72.6% during the first quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock worth $29,000 after acquiring an additional 159 shares during the last quarter. Parallel Advisors LLC boosted its holdings 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 during the last quarter. Osaic Holdings Inc. boosted its holdings 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 during the last quarter. Vestcor Inc acquired a new position in shares of Monarch Casino & Resort in the 1st quarter valued at $58,000. Finally, GAMMA Investing LLC boosted its holdings 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 during the last quarter. Institutional investors and hedge funds own 62.37% of the company's stock.

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.