Monarch Casino & Resort (NASDAQ:MCRI) Upgraded to Strong-Buy by StockNews.com

Monarch Casino & Resort (NASDAQ:MCRI) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

A number of other analysts also recently issued reports on the stock. Truist Financial increased their target price on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Macquarie restated a “neutral” rating and issued a $76.00 price target on shares of Monarch Casino & Resort in a report on Thursday, July 25th.

Monarch Casino & Resort Trading Down 2.8 %

Shares of NASDAQ MCRI traded down $2.09 on Monday, reaching $73.83. 79,392 shares of the company traded hands, compared to its average volume of 124,118. Monarch Casino & Resort has a fifty-two week low of $57.88 and a fifty-two week high of $80.22. The company has a 50 day moving average of $75.79 and a 200 day moving average of $71.43. The stock has a market capitalization of $1.38 billion, a PE ratio of 17.45 and a beta of 1.73.

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

Hedge Funds Weigh In On Monarch Casino & Resort

Institutional investors and hedge funds have recently bought and sold shares of the stock. Annex Advisory Services LLC boosted its stake in shares of Monarch Casino & Resort by 9.2% during the 1st quarter. Annex Advisory Services LLC now owns 14,078 shares of the company’s stock valued at $1,056,000 after buying an additional 1,189 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Monarch Casino & Resort during the 1st quarter valued at approximately $203,000. Principal Financial Group Inc. boosted its stake in shares of Monarch Casino & Resort by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 72,531 shares of the company’s stock valued at $5,439,000 after buying an additional 491 shares during the last quarter. Vest Financial LLC purchased a new position in shares of Monarch Casino & Resort during the 1st quarter valued at approximately $872,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Monarch Casino & Resort by 11.9% during the 1st quarter. BNP Paribas Financial Markets now owns 14,818 shares of the company’s stock valued at $1,111,000 after buying an additional 1,581 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Company Profile

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.