Brokerages Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Price Target at $87.20

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) have earned a consensus recommendation of "Hold" from the five analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $87.20.

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a report on Wednesday, February 12th. Truist Financial upgraded Monarch Casino & Resort from a "hold" rating to a "buy" rating and boosted their price target for the company from $82.00 to $100.00 in a report on Tuesday, January 14th. Jefferies Financial Group increased their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a report on Friday, January 3rd. StockNews.com cut Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus raised their price target on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th.

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Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the sale, the chief executive officer now owns 528,436 shares in the company, valued at $41,059,477.20. This represents a 0.19 % decrease in their ownership of the stock. The transaction 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 Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. DAVENPORT & Co LLC raised its position in shares of Monarch Casino & Resort by 1.6% in the fourth quarter. DAVENPORT & Co LLC now owns 1,256,305 shares of the company's stock valued at $98,696,000 after purchasing an additional 19,845 shares during the period. Vanguard Group Inc. grew its stake in Monarch Casino & Resort by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 1,003,709 shares of the company's stock valued at $79,193,000 after buying an additional 9,234 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Monarch Casino & Resort by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company's stock worth $72,488,000 after acquiring an additional 72,764 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Monarch Casino & Resort by 9.3% during the fourth quarter. American Century Companies Inc. now owns 404,073 shares of the company's stock worth $31,881,000 after purchasing an additional 34,384 shares during the period. Finally, Janus Henderson Group PLC increased its position in Monarch Casino & Resort by 0.9% during the 3rd quarter. Janus Henderson Group PLC now owns 388,658 shares of the company's stock worth $30,809,000 after buying an additional 3,488 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Stock Up 0.0 %

Monarch Casino & Resort stock traded up $0.02 during mid-day trading on Wednesday, hitting $81.19. 166,740 shares of the company's stock were exchanged, compared to its average volume of 111,265. The company's 50 day simple moving average is $86.69 and its 200-day simple moving average is $82.02. The firm has a market capitalization of $1.50 billion, a P/E ratio of 16.40 and a beta of 1.74. Monarch Casino & Resort has a fifty-two week low of $64.50 and a fifty-two week high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same quarter in the previous year, the firm posted $1.03 EPS. Research analysts expect that Monarch Casino & Resort will post 5.13 EPS for the current year.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.