Monarch Casino & Resort (NASDAQ:MCRI) Hits New 52-Week High - Should You Buy?

Key Points

• Monarch hit a new 52-week high of $118.72 (last $118.16) and trades above the MarketBeat consensus price target of $109.50, with a market cap of about $2.10 billion and a P/E around 20.
• The company beat quarterly estimates, reporting $1.52 EPS versus $1.15 expected and revenue of $136.55M (up 8.9% YoY), though analyst coverage is mixed (two Buys, four Holds; average rating: Hold).
• Monarch declared a $0.30 quarterly dividend (annualized $1.20, ~1.0% yield; ex‑dividend June 1), insiders own ~26.3% of shares while institutions own ~62.4%, and the CEO sold 2,000 shares in March.

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $118.72 and last traded at $118.16, with a volume of 137924 shares traded. The stock had previously closed at $117.61.

Wall Street Analysts Forecast Growth

MCRI has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on Monarch Casino & Resort from $97.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 22nd. Wall Street Zen raised Monarch Casino & Resort from a "hold" rating to a "buy" rating in a research note on Saturday. Zacks Research downgraded Monarch Casino & Resort from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Truist Financial increased their price objective on Monarch Casino & Resort from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Finally, Stifel Nicolaus increased their price objective on Monarch Casino & Resort from $97.00 to $102.00 and gave the company a "hold" rating in a research note on Wednesday, April 22nd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $109.50.

Monarch Casino & Resort Stock Performance

The company has a 50 day moving average of $99.36 and a 200 day moving average of $96.32. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 20.03 and a beta of 1.30.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.15 by $0.37. Monarch Casino & Resort had a return on equity of 19.98% and a net margin of 19.62%.The firm had revenue of $136.55 million during the quarter, compared to the consensus estimate of $128.49 million. The firm's quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts predict that Monarch Casino & Resort, Inc. will post 6.48 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, June 1st. Monarch Casino & Resort's dividend payout ratio is presently 20.34%.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the company's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $99.00, for a total value of $198,000.00. Following the completion of the sale, the chief executive officer directly owned 536,304 shares in the company, valued at $53,094,096. This represents a 0.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 26.34% of the stock is currently owned by insiders.

Institutional Trading of Monarch Casino & Resort

Several large investors have recently added to or reduced their stakes in MCRI. Tributary Capital Management LLC grew its holdings in Monarch Casino & Resort by 57.8% in the 3rd quarter. Tributary Capital Management LLC now owns 389,306 shares of the company's stock valued at $41,204,000 after buying an additional 142,621 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Monarch Casino & Resort by 77.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company's stock valued at $19,951,000 after buying an additional 82,035 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Monarch Casino & Resort in the 4th quarter valued at $7,244,000. Arrowstreet Capital Limited Partnership grew its holdings in Monarch Casino & Resort by 64.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company's stock valued at $18,943,000 after buying an additional 70,185 shares in the last quarter. Finally, Clark Capital Management Group Inc. purchased a new stake in Monarch Casino & Resort in the 3rd quarter valued at $6,192,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

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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