Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Consensus 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.

Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) has been given a consensus rating of "Hold" by the five analysts 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 target price among brokerages that have updated their coverage on the stock in the last year is $93.20.

Several research analysts recently commented on MCRI shares. Truist Financial lifted their price target 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. Wells Fargo & Company raised Monarch Casino & Resort from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $83.00 to $89.00 in a research note on Thursday, July 17th. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Finally, Stifel Nicolaus increased their price target on Monarch Casino & Resort from $81.00 to $92.00 and gave the company a "hold" rating in a report on Thursday, July 17th.

Insider Buying and Selling at Monarch Casino & Resort

In other news, Director Craig F. Sullivan sold 12,200 shares of the 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 firm's stock in a transaction dated Tuesday, July 22nd. The stock was 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 of the company's stock, valued at $59,248,435.80. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 25.52% of the company's stock.

Institutional Trading of Monarch Casino & Resort

Several institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position 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 worth $33,000 after acquiring an additional 130 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Monarch Casino & Resort by 72.6% in the first 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 during the last quarter. Vident Advisory LLC grew its stake in Monarch Casino & Resort by 3.5% in the second quarter. Vident Advisory LLC now owns 5,566 shares of the company's stock valued at $481,000 after purchasing an additional 186 shares during the last quarter. GAMMA Investing LLC raised its holdings in Monarch Casino & Resort by 28.7% in the second quarter. GAMMA Investing LLC now owns 839 shares of the company's stock worth $73,000 after purchasing an additional 187 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Monarch Casino & Resort by 7.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,271 shares of the company's stock valued at $283,000 after buying an additional 227 shares during the last quarter. Institutional investors own 62.37% of the company's stock.

Monarch Casino & Resort Stock Down 0.0%

Monarch Casino & Resort stock opened at $102.08 on Wednesday. Monarch Casino & Resort has a 52-week low of $69.99 and a 52-week high of $113.88. The firm's fifty day moving average is $99.50 and its 200 day moving average is $87.97. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 19.19 and a beta of 1.49.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.22. The firm had revenue of $136.91 million for the quarter, compared to the consensus estimate of $129.76 million. Monarch Casino & Resort had a net margin of 18.70% and a return on equity of 18.99%. On average, equities research analysts anticipate that Monarch Casino & Resort will post 5.13 earnings per share 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.

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