Monarch Casino & Resort (NASDAQ:MCRI) Upgraded to Strong-Buy by StockNews.com

Monarch Casino & Resort (NASDAQ:MCRI) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

Several other equities research analysts have also issued reports on the company. Truist Financial upped their price target on Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Macquarie reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Price Performance

Shares of MCRI stock traded down $2.09 on Monday, hitting $73.83. 79,392 shares of the stock traded hands, compared to its average volume of 124,118. The company has a market capitalization of $1.38 billion, a PE ratio of 17.45 and a beta of 1.73. Monarch Casino & Resort has a 1-year low of $57.88 and a 1-year high of $80.22. The company’s fifty day moving average is $75.79 and its 200 day moving average is $71.43.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. The business had revenue of $128.14 million for the quarter, compared to analyst estimates 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, equities research analysts expect that Monarch Casino & Resort will post 4.62 EPS for the current year.

Institutional Investors Weigh In On Monarch Casino & Resort

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Monarch Casino & Resort by 61.0% during the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after purchasing an additional 178 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Monarch Casino & Resort in the 2nd quarter worth about $53,000. Canada Pension Plan Investment Board purchased a new position in Monarch Casino & Resort in the 2nd quarter worth about $102,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Monarch Casino & Resort by 81.9% during the 2nd 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 during the 1st quarter valued at about $203,000. 62.37% of the stock is owned by institutional investors and hedge funds.

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.