Monarch Casino & Resort (NASDAQ:MCRI) Rating Increased to Buy at Wall Street Zen

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday.

A number of other equities analysts have also recently commented on MCRI. Stifel Nicolaus lowered their target price on Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Macquarie restated a "neutral" rating and set a $92.00 target price on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. Finally, Truist Financial lowered their target price 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $88.60.

Monarch Casino & Resort Trading Down 3.0%

NASDAQ:MCRI traded down $2.68 during trading hours on Friday, hitting $86.64. The company had a trading volume of 151,707 shares, compared to its average volume of 108,660. The company has a 50-day moving average of $84.33 and a 200 day moving average of $82.97. The company has a market cap of $1.60 billion, a P/E ratio of 17.09 and a beta of 1.54. Monarch Casino & Resort has a 1 year low of $67.14 and a 1 year high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.01. The business had revenue of $125.39 million during the quarter, compared to analysts' expectations of $122.70 million. Monarch Casino & Resort had a return on equity of 18.53% and a net margin of 18.19%. On average, analysts forecast that Monarch Casino & Resort will post 5.13 earnings per share for the current year.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of hedge funds and other institutional investors have recently bought and sold shares of MCRI. Annex Advisory Services LLC boosted its position in shares of Monarch Casino & Resort by 4.5% during the 2nd quarter. Annex Advisory Services LLC now owns 23,772 shares of the company's stock worth $2,055,000 after purchasing an additional 1,025 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Monarch Casino & Resort during the 2nd quarter worth about $1,889,000. Parallel Advisors LLC lifted its holdings in shares of Monarch Casino & Resort by 51.2% during the 2nd quarter. Parallel Advisors LLC now owns 384 shares of the company's stock worth $33,000 after acquiring an additional 130 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Monarch Casino & Resort by 20.5% during the 1st quarter. Voya Investment Management LLC now owns 45,873 shares of the company's stock worth $3,567,000 after acquiring an additional 7,816 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Monarch Casino & Resort by 1.1% during the 1st quarter. Rhumbline Advisers now owns 29,525 shares of the company's stock worth $2,296,000 after acquiring an additional 322 shares during the period. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

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.