Monarch Casino & Resort (NASDAQ:MCRI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research analysts have also commented on the stock. ValuEngine upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Jefferies Group began coverage on shares of Monarch Casino & Resort in a report on Thursday, January 18th. They issued an “underperform” rating and a $39.00 price target on the stock. Zacks Investment Research lowered shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Union Gaming Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Finally, UBS Group upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $50.40.

Monarch Casino & Resort (NASDAQ MCRI) opened at $43.15 on Wednesday. Monarch Casino & Resort has a 1-year low of $23.41 and a 1-year high of $47.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.17 and a quick ratio of 1.08. The company has a market cap of $762.49, a P/E ratio of 28.39 and a beta of 1.15.

In other news, President Bob Farahi sold 12,242 shares of Monarch Casino & Resort stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $46.13, for a total transaction of $564,723.46. Following the sale, the president now owns 378,074 shares in the company, valued at $17,440,553.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 68,553 shares of company stock worth $3,198,660 in the last 90 days. 27.56% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Monarch Casino & Resort by 0.5% during the fourth quarter. BlackRock Inc. now owns 1,487,947 shares of the company’s stock valued at $66,691,000 after purchasing an additional 7,116 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Monarch Casino & Resort by 0.3% during the third quarter. JPMorgan Chase & Co. now owns 1,066,464 shares of the company’s stock valued at $41,454,000 after purchasing an additional 3,567 shares during the period. Vanguard Group Inc. raised its stake in shares of Monarch Casino & Resort by 4.9% during the second quarter. Vanguard Group Inc. now owns 608,959 shares of the company’s stock valued at $18,421,000 after purchasing an additional 28,267 shares during the period. State Street Corp raised its stake in shares of Monarch Casino & Resort by 5.5% during the second quarter. State Street Corp now owns 281,967 shares of the company’s stock valued at $8,529,000 after purchasing an additional 14,713 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Monarch Casino & Resort by 6.6% during the fourth quarter. Renaissance Technologies LLC now owns 238,700 shares of the company’s stock valued at $10,699,000 after purchasing an additional 14,800 shares during the period. Institutional investors own 58.28% of the company’s stock.

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Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

Analyst Recommendations for Monarch Casino & Resort (NASDAQ:MCRI)

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