Monarch Casino & Resort (NASDAQ:MCRI) Upgraded at StockNews.com

StockNews.com upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a buy rating to a strong-buy rating in a report issued on Thursday.

Several other research analysts have also recently issued reports on the company. Truist Financial upped their price objective 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. Stifel Nicolaus boosted their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th.

Monarch Casino & Resort Stock Performance

Shares of Monarch Casino & Resort stock opened at $84.01 on Thursday. The business has a 50-day simple moving average of $79.58 and a 200-day simple moving average of $73.86. Monarch Casino & Resort has a one year low of $62.03 and a one year high of $86.68. The company has a market cap of $1.54 billion, a PE ratio of 18.59 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The company had revenue of $137.87 million during the quarter, compared to analysts’ expectations of $134.50 million. During the same quarter in the previous year, the business posted $1.38 EPS. On average, sell-side analysts predict that Monarch Casino & Resort will post 4.72 earnings per share for the current fiscal year.

Institutional Trading of Monarch Casino & Resort

A number of large investors have recently made changes to their positions in MCRI. Financial Management Professionals Inc. purchased a new stake in Monarch Casino & Resort in the third quarter valued at approximately $30,000. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 178 shares during the period. Meeder Asset Management Inc. purchased a new stake in Monarch Casino & Resort in the 2nd quarter valued at $53,000. Canada Pension Plan Investment Board acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Monarch Casino & Resort by 81.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock worth $185,000 after purchasing an additional 1,221 shares during the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.

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.