Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives $87.20 Consensus Target Price from Brokerages

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been given an average rating of “Hold” by the five brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $87.20.

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

Hedge Funds Weigh In On Monarch Casino & Resort

Several hedge funds have recently bought and sold shares of MCRI. Alliancebernstein L.P. boosted its position in shares of Monarch Casino & Resort by 0.8% during the 4th quarter. Alliancebernstein L.P. now owns 15,381 shares of the company’s stock worth $1,214,000 after acquiring an additional 121 shares in the last quarter. Heritage Family Offices LLP lifted its stake in Monarch Casino & Resort by 7.0% during the fourth quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock worth $236,000 after purchasing an additional 196 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Monarch Casino & Resort by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 24,706 shares of the company’s stock valued at $1,949,000 after purchasing an additional 210 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Monarch Casino & Resort by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company’s stock valued at $785,000 after purchasing an additional 250 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Monarch Casino & Resort by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,302 shares of the company’s stock valued at $576,000 after purchasing an additional 273 shares during the last quarter. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Stock Up 1.1 %

Shares of NASDAQ MCRI opened at $75.63 on Friday. Monarch Casino & Resort has a twelve month low of $64.58 and a twelve month high of $96.11. The business’s 50 day moving average price is $83.10 and its two-hundred day moving average price is $82.03. The company has a market cap of $1.40 billion, a PE ratio of 15.28 and a beta of 1.57.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 EPS 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 prior year, the company earned $1.03 EPS. As a group, research analysts anticipate that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Company Profile

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.