Monarch Casino & Resort (NASDAQ:MCRI) Downgraded by Wall Street Zen to "Hold"

Wall Street Zen lowered shares of Monarch Casino & Resort (NASDAQ:MCRI - Free Report) from a buy rating to a hold rating in a research report released on Thursday morning.

Several other research analysts also recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a report on Wednesday, February 12th. Truist Financial dropped their price objective on shares of Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Stifel Nicolaus dropped 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 report on Wednesday, April 23rd. Finally, Macquarie reissued a "neutral" rating and set a $92.00 price objective on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $88.60.

Monarch Casino & Resort Trading Up 2.1%

Monarch Casino & Resort stock traded up $1.74 during mid-day trading on Thursday, hitting $83.66. The stock had a trading volume of 29,296 shares, compared to its average volume of 115,463. The firm has a market capitalization of $1.54 billion, a P/E ratio of 16.90 and a beta of 1.59. The firm's 50 day moving average is $78.33 and its 200 day moving average is $82.43. Monarch Casino & Resort has a one year low of $64.94 and a one year high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued 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. Monarch Casino & Resort had a net margin of 18.01% and a return on equity of 18.27%. The company had revenue of $125.39 million during the quarter, compared to the consensus estimate of $122.70 million. As a group, equities research analysts forecast that Monarch Casino & Resort will post 5.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. TD Private Client Wealth LLC lifted its holdings 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 acquiring an additional 159 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Monarch Casino & Resort in the 4th quarter valued at about $53,000. Vestcor Inc bought a new position in shares of Monarch Casino & Resort in the 1st quarter valued at about $58,000. KBC Group NV lifted its holdings in shares of Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company's stock valued at $77,000 after acquiring an additional 396 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Monarch Casino & Resort by 45.3% in the 1st quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company's stock valued at $89,000 after acquiring an additional 355 shares during the last quarter. Institutional investors 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.