Monarch Casino & Resort (NASDAQ:MCRI) Price Target Increased to $82.00 by Analysts at Truist Financial

Monarch Casino & Resort (NASDAQ:MCRI) had its target price lifted by Truist Financial from $75.00 to $82.00 in a research note published on Wednesday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other brokerages have also recently commented on MCRI. StockNews.com raised shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Monday. Macquarie reiterated a “neutral” rating and issued a $76.00 price target on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Trading Down 0.2 %

Shares of Monarch Casino & Resort stock opened at $73.64 on Wednesday. The firm has a market cap of $1.38 billion, a PE ratio of 17.41 and a beta of 1.73. The stock has a 50 day moving average of $75.82 and a 200 day moving average of $71.47. Monarch Casino & Resort has a 12 month low of $57.88 and a 12 month high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, July 24th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. The firm had revenue of $128.14 million during the quarter, compared to analyst estimates of $126.03 million. As a group, equities research analysts forecast that Monarch Casino & Resort will post 4.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monarch Casino & Resort

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its position in Monarch Casino & Resort by 376.1% in the 2nd quarter. Millennium Management LLC now owns 85,869 shares of the company’s stock worth $5,850,000 after purchasing an additional 67,833 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Monarch Casino & Resort in the second quarter worth approximately $3,307,000. American Century Companies Inc. raised its holdings in shares of Monarch Casino & Resort by 17.3% in the second quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after buying an additional 46,323 shares during the period. Westwood Holdings Group Inc. bought a new stake in shares of Monarch Casino & Resort during the 1st quarter worth approximately $2,822,000. Finally, Renaissance Technologies LLC boosted its holdings in Monarch Casino & Resort by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 110,100 shares of the company’s stock valued at $7,501,000 after acquiring an additional 11,500 shares during the period. Institutional investors own 62.37% of the company’s stock.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.