Monarch Casino & Resort (NASDAQ:MCRI) Given New $102.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target on Monarch Casino & Resort to $102 (from $97) while maintaining a "hold" rating, a move that implies roughly a 3.5% upside; the Street consensus remains a "Hold" with a $105.60 average target and analyst views ranging from buy to hold.
• Monarch reported a quarterly beat with EPS of $1.52 vs. $1.15 expected and revenue of $136.6M (vs. $128.5M), representing 8.9% year-over-year revenue growth and healthy margins (net margin 18.6%, ROE 18.7%).
• The stock trades near $98.58 with a $1.75B market cap and a P/E of 18.15, a one-year range of $74.39–$113.88, and notable ownership concentration (insiders ~25.5%, institutions/hedge funds ~62.4%); CEO John Farahi sold 2,000 shares in March.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) had its price target upped by investment analysts at Stifel Nicolaus from $97.00 to $102.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' price target would indicate a potential upside of 3.47% from the company's previous close.

A number of other equities analysts also recently commented on MCRI. Zacks Research downgraded shares of Monarch Casino & Resort from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Truist Financial upped their price objective on shares of Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday. Jefferies Financial Group reaffirmed a "hold" rating and set a $112.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. Wells Fargo & Company upped their price target on shares of Monarch Casino & Resort from $93.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Monarch Casino & Resort in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $105.60.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $98.58 on Wednesday. The company has a market cap of $1.75 billion, a P/E ratio of 18.15 and a beta of 1.30. Monarch Casino & Resort has a one year low of $74.39 and a one year high of $113.88. The firm has a fifty day moving average of $97.14 and a two-hundred day moving average of $95.69.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.37. The company had revenue of $136.55 million during the quarter, compared to the consensus estimate of $128.49 million. Monarch Casino & Resort had a net margin of 18.60% and a return on equity of 18.68%. The company's revenue was up 8.9% on a year-over-year basis. As a group, equities analysts predict that Monarch Casino & Resort will post 5.95 earnings per share for the current year.

Insider Buying and Selling at Monarch Casino & Resort

In other news, CEO John Farahi sold 2,000 shares of the company's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $99.00, for a total transaction of $198,000.00. Following the transaction, the chief executive officer directly owned 536,304 shares of the company's stock, valued at $53,094,096. This represents a 0.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 25.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. grew its stake in Monarch Casino & Resort by 12.4% in the 1st quarter. GHP Investment Advisors Inc. now owns 19,604 shares of the company's stock valued at $1,874,000 after acquiring an additional 2,164 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Monarch Casino & Resort in the 1st quarter valued at about $516,000. Hsbc Holdings PLC grew its stake in Monarch Casino & Resort by 26.1% in the 4th quarter. Hsbc Holdings PLC now owns 6,269 shares of the company's stock valued at $599,000 after acquiring an additional 1,299 shares during the last quarter. Aristides Capital LLC grew its stake in Monarch Casino & Resort by 18.6% in the 4th quarter. Aristides Capital LLC now owns 3,174 shares of the company's stock valued at $304,000 after acquiring an additional 498 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in Monarch Casino & Resort by 2,489.3% in the 4th quarter. Pacer Advisors Inc. now owns 50,311 shares of the company's stock valued at $4,815,000 after acquiring an additional 48,368 shares during the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company's flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property's showroom.

Monarch's revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.

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