Brokerages Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Target Price at $84.00

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) have been given an average rating of "Hold" by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $84.00.

Several research analysts have recently weighed in on MCRI shares. Stifel Nicolaus boosted their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a "hold" rating in a research report on Thursday, October 24th. StockNews.com cut Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 22nd. Jefferies Financial Group raised their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a research report on Friday, January 3rd. Wells Fargo & Company began coverage on shares of Monarch Casino & Resort in a report on Monday, December 16th. They issued an "underweight" rating and a $79.00 price objective on the stock. Finally, Truist Financial upgraded shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating and lifted their price target for the company from $82.00 to $100.00 in a research report on Tuesday, January 14th.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the sale, the chief executive officer now owns 528,436 shares of the company's stock, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 24.94% of the company's stock.

Institutional Investors Weigh In On Monarch Casino & Resort

Large investors have recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in shares of Monarch Casino & Resort in the third quarter valued at about $30,000. GAMMA Investing LLC raised its stake in Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company's stock valued at $37,000 after acquiring an additional 178 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Monarch Casino & Resort during the 4th quarter worth approximately $53,000. KBC Group NV grew its stake in shares of Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company's stock valued at $77,000 after purchasing an additional 396 shares during the last quarter. Finally, Independence Bank of Kentucky acquired a new position in shares of Monarch Casino & Resort in the fourth quarter valued at approximately $93,000. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Stock Performance

Shares of MCRI stock traded down $0.73 on Tuesday, reaching $85.16. 24,018 shares of the company were exchanged, compared to its average volume of 89,477. Monarch Casino & Resort has a 1 year low of $64.50 and a 1 year high of $89.06. The business has a 50-day moving average price of $82.47 and a 200 day moving average price of $78.47. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 18.86 and a beta of 1.73.

About Monarch Casino & Resort

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.