Monarch Casino & Resort (NASDAQ:MCRI) Cut to Hold at Wall Street Zen

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Thursday.

MCRI has been the topic of a number of other reports. Macquarie restated a "neutral" rating and issued a $92.00 target price on shares of Monarch Casino & Resort in a research note on Wednesday, April 23rd. Truist Financial lowered their price target on 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 reduced their price objective on Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their target price on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Monarch Casino & Resort has a consensus rating of "Hold" and an average price target of $88.60.

Monarch Casino & Resort Price Performance

Shares of MCRI traded up $0.14 during mid-day trading on Thursday, reaching $81.14. 13,390 shares of the company's stock traded hands, compared to its average volume of 115,419. The stock's 50-day moving average is $78.37 and its two-hundred day moving average is $82.40. Monarch Casino & Resort has a 12 month low of $64.58 and a 12 month high of $96.11. The stock has a market cap of $1.50 billion, a P/E ratio of 16.39 and a beta of 1.59.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. The company had revenue of $125.39 million for the quarter, compared to the consensus estimate of $122.70 million. Research analysts predict that Monarch Casino & Resort will post 5.13 earnings per share for the current year.

Hedge Funds Weigh In On Monarch Casino & Resort

Several institutional investors have recently bought and sold shares of MCRI. Alliancebernstein L.P. lifted its holdings in Monarch Casino & Resort by 0.8% during the fourth quarter. Alliancebernstein L.P. now owns 15,381 shares of the company's stock worth $1,214,000 after buying an additional 121 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of Monarch Casino & Resort by 72.6% during the 1st quarter. TD Private Client Wealth LLC now owns 378 shares of the company's stock worth $29,000 after purchasing an additional 159 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of Monarch Casino & Resort by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 24,706 shares of the company's stock worth $1,949,000 after purchasing an additional 210 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Monarch Casino & Resort by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company's stock valued at $785,000 after purchasing an additional 250 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Monarch Casino & Resort by 3.9% during the first quarter. Illinois Municipal Retirement Fund now owns 6,766 shares of the company's stock valued at $526,000 after purchasing an additional 254 shares in the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

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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