Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) shares dropped 3.7% during mid-day trading on Monday . The company traded as low as $82.14 and last traded at $81.91. Approximately 78,723 shares changed hands during trading, a decline of 28% from the average daily volume of 109,258 shares. The stock had previously closed at $85.02.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on MCRI shares. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $80.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. StockNews.com cut Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a "hold" rating in a research note on Friday, January 3rd. Finally, Truist Financial raised Monarch Casino & Resort from a "hold" rating to a "buy" rating and lifted their price target for the stock from $82.00 to $100.00 in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $87.20.
Get Our Latest Stock Analysis on MCRI
Monarch Casino & Resort Price Performance
The company has a 50 day moving average price of $86.63 and a two-hundred day moving average price of $81.98. The stock has a market cap of $1.48 billion, a PE ratio of 16.16 and a beta of 1.74.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $1.36 EPS for the quarter, beating analysts' consensus estimates 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 earned $1.03 earnings per share. As a group, equities analysts predict that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.
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 stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the transaction, the chief executive officer now owns 528,436 shares in the company, valued at $41,059,477.20. This trade represents a 0.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 24.94% of the company's stock.
Hedge Funds Weigh In On Monarch Casino & Resort
Institutional investors and hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new stake in shares of Monarch Casino & Resort during the 4th quarter worth approximately $53,000. KBC Group NV lifted its stake in shares of Monarch Casino & Resort by 67.8% during the 4th quarter. KBC Group NV now owns 980 shares of the company's stock worth $77,000 after acquiring an additional 396 shares during the last quarter. Independence Bank of Kentucky bought a new stake in shares of Monarch Casino & Resort during the 4th quarter worth approximately $93,000. Nisa Investment Advisors LLC lifted its stake in shares of Monarch Casino & Resort by 30.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company's stock worth $134,000 after acquiring an additional 400 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Monarch Casino & Resort during the 4th quarter worth approximately $169,000. Hedge funds and other institutional investors own 62.37% of the company's stock.
About Monarch Casino & Resort
(
Get Free Report)
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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