Monarch Casino & Resort (NASDAQ:MCRI) PT Raised to $82.00

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective hoisted by Truist Financial from $75.00 to $82.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 11.26% from the company’s current price.

MCRI has been the subject of a number of other research reports. StockNews.com raised Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a report on Monday. Macquarie restated a “neutral” rating and issued a $76.00 price objective on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Stock Performance

MCRI traded down $0.06 during trading on Wednesday, reaching $73.70. 3,698 shares of the company traded hands, compared to its average volume of 123,203. The company has a market cap of $1.38 billion, a P/E ratio of 17.42 and a beta of 1.73. Monarch Casino & Resort has a 12-month low of $57.88 and a 12-month high of $80.22. The firm has a fifty day simple moving average of $75.81 and a 200 day simple moving average of $71.45.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, July 24th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The business had revenue of $128.14 million during the quarter, compared to the consensus estimate of $126.03 million. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. As a group, sell-side analysts expect that Monarch Casino & Resort will post 4.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MCRI. GAMMA Investing LLC grew its stake in Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after buying an additional 178 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth approximately $53,000. Canada Pension Plan Investment Board acquired a new stake in shares of Monarch Casino & Resort in the 2nd quarter valued at approximately $102,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Monarch Casino & Resort by 81.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after buying an additional 1,221 shares during the period. Finally, Diversified Trust Co purchased a new stake in Monarch Casino & Resort during the first quarter worth $203,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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.