Monarch Casino & Resort (NASDAQ:MCRI) Sets New 12-Month High – What’s Next?

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $84.15 and last traded at $83.88, with a volume of 7133 shares. The stock had previously closed at $83.14.

Analyst Ratings Changes

MCRI has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Macquarie reissued a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a research report on Thursday, July 25th. Stifel Nicolaus upped their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Finally, StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th.

Monarch Casino & Resort Stock Performance

The firm has a market cap of $1.54 billion, a P/E ratio of 18.52 and a beta of 1.73. The company’s 50 day moving average is $77.38 and its 200 day moving average is $72.52.

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 the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The company had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. During the same quarter in the prior year, the firm posted $1.38 earnings per share. On average, equities research analysts anticipate that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. FMR LLC raised its position in shares of Monarch Casino & Resort by 1.1% during the third quarter. FMR LLC now owns 134,098 shares of the company’s stock worth $10,630,000 after acquiring an additional 1,396 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Monarch Casino & Resort during the 3rd quarter valued at approximately $444,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Monarch Casino & Resort by 141.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,736 shares of the company’s stock worth $613,000 after purchasing an additional 4,528 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Monarch Casino & Resort in the 3rd quarter worth approximately $1,868,000. Finally, Victory Capital Management Inc. raised its stake in Monarch Casino & Resort by 58.9% during the third quarter. Victory Capital Management Inc. now owns 8,462 shares of the company’s stock worth $671,000 after buying an additional 3,138 shares during the last quarter. 62.37% of the stock is owned by institutional investors.

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.