Monarch Casino & Resort (NASDAQ:MCRI) Given New $77.00 Price Target at Stifel Nicolaus

Monarch Casino & Resort (NASDAQ:MCRI - Free Report) had its price objective hoisted by Stifel Nicolaus from $72.00 to $77.00 in a report issued on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other analysts also recently issued reports on the stock. Macquarie reaffirmed a "neutral" rating and issued a $76.00 target price on shares of Monarch Casino & Resort in a report on Thursday, July 25th. StockNews.com upgraded Monarch Casino & Resort from a "buy" rating to a "strong-buy" rating in a research report on Monday. Finally, Truist Financial boosted their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a "hold" rating in a research report on Wednesday.

Monarch Casino & Resort Price Performance

Shares of NASDAQ:MCRI traded up $4.79 during trading on Thursday, hitting $78.43. 135,874 shares of the company's stock were exchanged, compared to its average volume of 123,597. The business's 50-day simple moving average is $75.82 and its 200 day simple moving average is $71.47. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 18.41 and a beta of 1.73. Monarch Casino & Resort has a 52-week low of $57.88 and a 52-week high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.08. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. The business had revenue of $128.14 million during the quarter, compared to analyst estimates of $126.03 million. On average, sell-side analysts anticipate that Monarch Casino & Resort will post 4.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of institutional investors and hedge funds have recently modified their holdings of MCRI. Financial Management Professionals Inc. purchased a new stake in Monarch Casino & Resort during the 3rd quarter valued at $30,000. GAMMA Investing LLC raised its stake in shares of Monarch Casino & Resort by 61.0% in the third 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 period. Meeder Asset Management Inc. bought a new stake in shares of Monarch Casino & Resort in the 2nd quarter worth about $53,000. Canada Pension Plan Investment Board purchased a new position in shares of Monarch Casino & Resort during the 2nd quarter worth about $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Monarch Casino & Resort by 81.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company's stock worth $185,000 after purchasing an additional 1,221 shares during the period. Hedge funds and other institutional investors own 62.37% of the company's stock.

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.