Monarch Casino & Resort (NASDAQ:MCRI) Given New $90.00 Price Target at Stifel Nicolaus

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective hoisted by Stifel Nicolaus from $80.00 to $90.00 in a research report report published on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Other analysts also recently issued reports about the company. Jefferies Financial Group boosted their price target 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. Truist Financial raised 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 raised their price target on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $87.20.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock opened at $92.57 on Wednesday. The business has a fifty day simple moving average of $82.73 and a two-hundred day simple moving average of $79.48. Monarch Casino & Resort has a 1 year low of $64.50 and a 1 year high of $93.38. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 20.48 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same period last year, the firm earned $1.03 EPS. As a group, equities analysts anticipate that Monarch Casino & Resort will post 4.73 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, February 28th. Monarch Casino & Resort’s payout ratio is 26.55%.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the transaction, the chief executive officer now owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 24.94% of the company’s stock.

Institutional Trading of Monarch Casino & Resort

Several institutional investors have recently modified their holdings of MCRI. Financial Management Professionals Inc. bought a new position in Monarch Casino & Resort during the 3rd quarter worth $30,000. GAMMA Investing LLC increased its stake in shares of Monarch Casino & Resort by 61.0% in the third 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 period. Golden State Wealth Management LLC bought a new position in shares of Monarch Casino & Resort during the fourth quarter worth about $53,000. KBC Group NV lifted its stake in shares of Monarch Casino & Resort by 67.8% in the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock worth $77,000 after acquiring an additional 396 shares during the period. Finally, Independence Bank of Kentucky acquired a new position in shares of Monarch Casino & Resort in the fourth quarter worth approximately $93,000. 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.