Brokerages Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Target Price at $87.20

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been given a consensus recommendation of “Hold” by the five ratings firms that are covering the stock, MarketBeat Ratings reports. One 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 12 month price target among brokerages that have issued ratings on the stock in the last year is $87.20.

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Stifel Nicolaus raised their price target on Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Truist Financial raised Monarch Casino & Resort from a “hold” rating to a “buy” rating and raised their price target for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. Finally, Wells Fargo & Company raised their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the company an “underweight” rating in a report on Wednesday, February 12th.

Insider Transactions at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Monarch Casino & Resort by 35.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,451 shares of the company’s stock valued at $2,008,000 after acquiring an additional 6,700 shares during the last quarter. State of Wyoming grew its position in Monarch Casino & Resort by 56.4% in the fourth quarter. State of Wyoming now owns 3,341 shares of the company’s stock valued at $264,000 after acquiring an additional 1,205 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Monarch Casino & Resort in the fourth quarter valued at about $169,000. ProShare Advisors LLC grew its position in Monarch Casino & Resort by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 3,862 shares of the company’s stock valued at $305,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Quantedge Capital Pte Ltd bought a new position in Monarch Casino & Resort in the fourth quarter valued at about $1,585,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Trading Up 0.0 %

NASDAQ:MCRI opened at $81.19 on Wednesday. Monarch Casino & Resort has a 1-year low of $64.50 and a 1-year high of $96.11. The firm has a fifty day simple moving average of $86.69 and a 200 day simple moving average of $82.02. The stock has a market capitalization of $1.50 billion, a PE ratio of 16.40 and a beta of 1.74.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results 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 18.01% and a return on equity of 18.27%. During the same period in the previous year, the firm earned $1.03 earnings per share. On average, equities analysts predict that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

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.