Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Average Recommendation of “Hold” by Brokerages

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have earned a consensus rating of “Hold” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $84.00.

A number of research analysts recently issued reports on MCRI shares. Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their target price for the company from $82.00 to $100.00 in a research report on Tuesday, January 14th. Wells Fargo & Company initiated coverage on shares of Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price objective on the stock. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group raised their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock opened at $84.94 on Tuesday. The company has a market cap of $1.56 billion, a P/E ratio of 18.79 and a beta of 1.73. Monarch Casino & Resort has a fifty-two week low of $64.50 and a fifty-two week high of $89.06. The stock has a 50 day simple moving average of $82.32 and a two-hundred day simple moving average of $78.24.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the sale, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 24.94% of the company’s stock.

Institutional Trading of Monarch Casino & Resort

Institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in shares of Monarch Casino & Resort during the third quarter valued at about $30,000. GAMMA Investing LLC increased its stake in Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after buying an additional 178 shares during the last quarter. KBC Group NV lifted its position in shares of Monarch Casino & Resort by 67.8% during the 4th quarter. KBC Group NV now owns 980 shares of the company’s stock worth $77,000 after buying an additional 396 shares in the last quarter. Independence Bank of Kentucky purchased a new position in shares of Monarch Casino & Resort in the 4th quarter worth approximately $93,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Monarch Casino & Resort by 30.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock valued at $134,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 62.37% of the company’s stock.

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.