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

Monarch Casino & Resort (NASDAQ:MCRI) had its price target boosted by Truist Financial from $75.00 to $82.00 in a research note published on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also weighed in on the stock. StockNews.com raised shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Monday. Macquarie reaffirmed a “neutral” rating and issued a $76.00 price target on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Stock Performance

Monarch Casino & Resort stock opened at $73.64 on Wednesday. The company has a market capitalization of $1.38 billion, a PE ratio of 17.41 and a beta of 1.73. The company has a 50 day moving average price of $75.82 and a 200-day moving average price of $71.47. Monarch Casino & Resort has a fifty-two week low of $57.88 and a fifty-two week high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI) last issued 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. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. The business had revenue of $128.14 million during the quarter, compared to analysts’ expectations of $126.03 million. On average, analysts forecast that Monarch Casino & Resort will post 4.62 earnings per share for the current year.

Institutional Investors Weigh In On Monarch Casino & Resort

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after purchasing an additional 178 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Monarch Casino & Resort during the 2nd quarter worth approximately $53,000. Canada Pension Plan Investment Board purchased a new stake in Monarch Casino & Resort during the second quarter valued at approximately $102,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Monarch Casino & Resort by 81.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after acquiring an additional 1,221 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in Monarch Casino & Resort in the first quarter worth $203,000. 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.