StockNews.com lowered shares of Monarch Casino & Resort (NASDAQ:MCRI - Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.
A number of other research firms have also recently commented on MCRI. Jefferies Financial Group raised their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a research note on Friday, January 3rd. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a "hold" rating in a research report on Thursday, October 24th. Wells Fargo & Company initiated coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They set an "underweight" rating and a $79.00 target price for the company. Finally, Truist Financial raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $84.00.
Get Our Latest Analysis on MCRI
Monarch Casino & Resort Stock Down 1.0 %
MCRI traded down $0.87 during trading on Tuesday, hitting $85.91. The company's stock had a trading volume of 97,982 shares, compared to its average volume of 87,651. Monarch Casino & Resort has a one year low of $64.50 and a one year high of $89.06. The business's 50 day simple moving average is $82.57 and its 200-day simple moving average is $79.02. The firm has a market cap of $1.58 billion, a PE ratio of 19.01 and a beta of 1.74.
Insider Transactions at Monarch Casino & Resort
In other news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort 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 completion of the sale, the chief executive officer now owns 528,436 shares of the company's stock, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 24.94% of the company's stock.
Hedge Funds Weigh In On Monarch Casino & Resort
A number of hedge funds and other institutional investors have recently made changes to their positions in MCRI. Financial Management Professionals Inc. bought a new position in Monarch Casino & Resort during the 3rd quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in Monarch Casino & Resort by 61.0% during the third quarter. GAMMA Investing LLC now owns 470 shares of the company's stock worth $37,000 after buying an additional 178 shares during the period. Golden State Wealth Management LLC bought a new stake in Monarch Casino & Resort during the 4th quarter valued at $53,000. KBC Group NV raised its position 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 worth $77,000 after acquiring an additional 396 shares in the last quarter. Finally, Independence Bank of Kentucky purchased a new position in Monarch Casino & Resort in the fourth quarter valued at about $93,000. Institutional investors own 62.37% of the company's stock.
Monarch Casino & Resort Company Profile
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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.
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