Monarch Casino & Resort (NASDAQ:MCRI - Free Report) had its target price raised by Stifel Nicolaus from $80.00 to $90.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the stock.
Several other research firms have also commented on MCRI. Truist Financial raised shares of Monarch Casino & Resort from a "hold" rating to a "buy" rating and raised their price objective for the company from $82.00 to $100.00 in a research note on Tuesday, January 14th. StockNews.com cut shares of Monarch Casino & Resort from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Jefferies Financial Group lifted their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a "hold" rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the company an "underweight" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $87.20.
Read Our Latest Stock Report on MCRI
Monarch Casino & Resort Price Performance
Shares of MCRI traded up $0.31 during mid-day trading on Wednesday, reaching $94.47. The stock had a trading volume of 145,995 shares, compared to its average volume of 76,687. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 20.90 and a beta of 1.74. The business's fifty day moving average is $83.07 and its 200 day moving average is $79.71. Monarch Casino & Resort has a 52-week low of $64.50 and a 52-week high of $96.11.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same quarter last year, the firm earned $1.03 earnings per share. As a group, sell-side analysts anticipate that Monarch Casino & Resort will post 4.73 EPS for the current fiscal year.
Monarch Casino & Resort Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Friday, February 28th. Monarch Casino & Resort's dividend payout ratio is presently 26.55%.
Insider Activity at Monarch Casino & Resort
In related news, CEO John Farahi sold 1,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 24.94% of the company's stock.
Institutional Investors Weigh In On Monarch Casino & Resort
Several hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC acquired a new stake in Monarch Casino & Resort in the 3rd quarter valued at approximately $258,000. Barclays PLC increased its holdings in shares of Monarch Casino & Resort by 108.2% in the third quarter. Barclays PLC now owns 33,508 shares of the company's stock worth $2,656,000 after acquiring an additional 17,413 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Monarch Casino & Resort by 3.9% during the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company's stock worth $17,410,000 after buying an additional 8,283 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Monarch Casino & Resort during the fourth quarter valued at approximately $254,000. Finally, Versor Investments LP acquired a new stake in shares of Monarch Casino & Resort in the third quarter valued at approximately $230,000. 62.37% of the stock is owned by hedge funds and other institutional investors.
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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