Truist Financial Boosts Monarch Casino & Resort (NASDAQ:MCRI) Price Target to $75.00

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective increased by equities researchers at Truist Financial from $74.00 to $75.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential downside of 0.54% from the stock’s previous close.

Separately, Macquarie lifted their price objective on Monarch Casino & Resort from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th.

Monarch Casino & Resort Trading Up 9.6 %

Shares of MCRI stock traded up $6.63 during mid-day trading on Thursday, reaching $75.41. The stock had a trading volume of 42,982 shares, compared to its average volume of 123,392. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 17.83 and a beta of 1.74. The business’s fifty day moving average is $67.51 and its 200-day moving average is $68.85. Monarch Casino & Resort has a 1-year low of $56.25 and a 1-year high of $76.50.

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, beating the consensus estimate of $1.11 by $0.08. Monarch Casino & Resort had a return on equity of 17.13% and a net margin of 16.40%. The business had revenue of $128.14 million for the quarter, compared to the consensus estimate of $126.03 million. On average, analysts forecast that Monarch Casino & Resort will post 4.46 earnings per share for the current year.

Insider Activity at Monarch Casino & Resort

In related news, CEO John Farahi sold 2,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $68.00, for a total value of $136,000.00. Following the transaction, the chief executive officer now directly owns 525,310 shares of the company’s stock, valued at approximately $35,721,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 24.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Monarch Casino & Resort

Large investors have recently made changes to their positions in the business. Diversified Trust Co acquired a new stake in shares of Monarch Casino & Resort in the first quarter worth $203,000. ProShare Advisors LLC acquired a new stake in shares of Monarch Casino & Resort in the first quarter worth $204,000. Choate Investment Advisors purchased a new position in shares of Monarch Casino & Resort in the first quarter valued at $225,000. Windham Capital Management LLC purchased a new position in shares of Monarch Casino & Resort in the fourth quarter valued at $209,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Monarch Casino & Resort in the first quarter valued at $239,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

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.