Monarch Casino & Resort (NASDAQ:MCRI) Rating Lowered to Buy at StockNews.com

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

Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus lifted their price objective 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. Truist Financial lifted their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, Macquarie reissued a “neutral” rating and issued a $76.00 target price on shares of Monarch Casino & Resort in a report on Thursday, July 25th.

Monarch Casino & Resort Trading Down 0.0 %

Monarch Casino & Resort stock opened at $82.36 on Wednesday. Monarch Casino & Resort has a 12 month low of $61.96 and a 12 month high of $83.91. The stock’s 50 day simple moving average is $76.93 and its two-hundred day simple moving average is $72.16. The firm has a market cap of $1.52 billion, a PE ratio of 18.22 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The firm had revenue of $137.87 million for the quarter, compared to analyst estimates of $134.50 million. During the same quarter last year, the firm posted $1.38 EPS. On average, equities research analysts forecast that Monarch Casino & Resort will post 4.72 EPS for the current year.

Hedge Funds Weigh In On Monarch Casino & Resort

Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in Monarch Casino & Resort by 17.3% during the second quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after acquiring an additional 46,323 shares during the last quarter. Tributary Capital Management LLC increased its stake in Monarch Casino & Resort by 0.3% during the second quarter. Tributary Capital Management LLC now owns 276,426 shares of the company’s stock worth $18,833,000 after acquiring an additional 827 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Monarch Casino & Resort by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company’s stock worth $12,177,000 after acquiring an additional 1,400 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Monarch Casino & Resort by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock worth $11,949,000 after acquiring an additional 9,990 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Monarch Casino & Resort by 11.7% during the second quarter. Renaissance Technologies LLC now owns 110,100 shares of the company’s stock worth $7,501,000 after acquiring an additional 11,500 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors and hedge funds.

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.