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

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

Several other research analysts also recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Monarch Casino & Resort from $90.00 to $81.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Truist Financial decreased their target price on Monarch Casino & Resort from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Macquarie reaffirmed a "neutral" rating and issued a $92.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $88.60.

Monarch Casino & Resort Stock Down 0.0%

NASDAQ MCRI traded down $0.03 during trading on Friday, hitting $88.96. The company's stock had a trading volume of 120,911 shares, compared to its average volume of 107,959. Monarch Casino & Resort has a 52 week low of $66.20 and a 52 week high of $96.11. The firm has a market cap of $1.64 billion, a P/E ratio of 17.55 and a beta of 1.54. The firm has a 50 day moving average price of $83.75 and a 200 day moving average price of $82.76.

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

Institutional Trading of Monarch Casino & Resort

Several institutional investors have recently made changes to their positions in the business. TD Private Client Wealth LLC lifted its stake in Monarch Casino & Resort by 72.6% during the first 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 period. Parallel Advisors LLC raised its holdings in shares of Monarch Casino & Resort by 51.2% in the 2nd quarter. Parallel Advisors LLC now owns 384 shares of the company's stock worth $33,000 after buying an additional 130 shares in the last quarter. Vestcor Inc acquired a new position in shares of Monarch Casino & Resort in the 1st quarter worth approximately $58,000. Meeder Asset Management Inc. lifted its position in shares of Monarch Casino & Resort by 45.3% during the 1st quarter. Meeder Asset Management Inc. now owns 1,139 shares of the company's stock worth $89,000 after buying an additional 355 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in Monarch Casino & Resort by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,332 shares of the company's stock valued at $104,000 after buying an additional 666 shares in the last quarter. 62.37% of the stock is currently owned by institutional investors and hedge funds.

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.