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

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

MCRI has been the topic of a number of other reports. Truist Financial increased their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus increased their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th.

Monarch Casino & Resort Stock Performance

Shares of NASDAQ:MCRI opened at $83.99 on Thursday. The firm has a market cap of $1.54 billion, a PE ratio of 18.58 and a beta of 1.73. The firm’s 50 day simple moving average is $79.28 and its 200-day simple moving average is $73.67. Monarch Casino & Resort has a one year low of $62.03 and a one year high of $86.68.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data 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 net margin of 16.82% and a return on equity of 17.06%. The firm had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. During the same period last year, the firm earned $1.38 earnings per share. Equities research analysts predict that Monarch Casino & Resort will post 4.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Monarch Casino & Resort

Several institutional investors have recently bought and sold shares of MCRI. Jane Street Group LLC boosted its stake in Monarch Casino & Resort by 518.8% in the third quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after acquiring an additional 98,153 shares in the last quarter. Weiss Asset Management LP boosted its stake in Monarch Casino & Resort by 1,289.7% in the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock valued at $6,279,000 after acquiring an additional 73,512 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Monarch Casino & Resort by 376.1% during the second quarter. Millennium Management LLC now owns 85,869 shares of the company’s stock worth $5,850,000 after buying an additional 67,833 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Monarch Casino & Resort during the second quarter worth $3,307,000. Finally, American Century Companies Inc. lifted its stake in shares of 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 buying an additional 46,323 shares during the period. 62.37% of the stock is currently 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.