Truist Financial Increases Monarch Casino & Resort (NASDAQ:MCRI) Price Target to $82.00

Monarch Casino & Resort (NASDAQ:MCRI - Free Report) had its price objective raised by Truist Financial from $75.00 to $82.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts also recently issued reports about the company. StockNews.com raised Monarch Casino & Resort from a "buy" rating to a "strong-buy" rating in a report on Monday. Macquarie reaffirmed a "neutral" rating and set a $76.00 target price on shares of Monarch Casino & Resort in a report on Thursday, July 25th.

Monarch Casino & Resort Stock Down 0.2 %

Shares of NASDAQ MCRI traded down $0.12 during mid-day trading on Wednesday, hitting $73.64. 72,227 shares of the company traded hands, compared to its average volume of 123,537. Monarch Casino & Resort has a 1 year low of $57.88 and a 1 year high of $80.22. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 17.42 and a beta of 1.73. The business has a 50 day moving average of $75.81 and a two-hundred day moving average of $71.45.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its earnings results on Wednesday, July 24th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. The business had revenue of $128.14 million during the quarter, compared to the consensus estimate of $126.03 million. As a group, research analysts anticipate that Monarch Casino & Resort will post 4.62 EPS for the current year.

Institutional Investors Weigh In On Monarch Casino & Resort

Hedge funds have recently bought and sold shares of the business. Texas Permanent School Fund Corp increased its position in Monarch Casino & Resort by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 11,682 shares of the company's stock worth $876,000 after purchasing an additional 152 shares during the last quarter. Trust Point Inc. increased its position in Monarch Casino & Resort by 1.5% in the 3rd quarter. Trust Point Inc. now owns 11,008 shares of the company's stock worth $873,000 after purchasing an additional 162 shares during the last quarter. GAMMA Investing LLC increased its position in Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company's stock worth $37,000 after purchasing an additional 178 shares during the last quarter. Pitcairn Co. increased its position in Monarch Casino & Resort by 4.3% in the 1st quarter. Pitcairn Co. now owns 5,698 shares of the company's stock worth $427,000 after purchasing an additional 235 shares during the last quarter. Finally, Sei Investments Co. increased its position in Monarch Casino & Resort by 1.4% in the 2nd quarter. Sei Investments Co. now owns 19,697 shares of the company's stock worth $1,342,000 after purchasing an additional 271 shares during the last quarter. 62.37% of the stock is owned by hedge funds and other institutional investors.

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.