Monarch Casino & Resort (NASDAQ:MCRI) Price Target Increased to $76.00 by Analysts at Macquarie

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective hoisted by research analysts at Macquarie from $75.00 to $76.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Macquarie’s price target points to a potential upside of 16.58% from the company’s previous close.

Several other research firms have also commented on MCRI. Stifel Nicolaus reissued a “hold” rating and issued a $70.00 target price on shares of Monarch Casino & Resort in a report on Friday, January 5th. Truist Financial upped their price objective on shares of Monarch Casino & Resort from $72.00 to $74.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Finally, StockNews.com upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th.

Monarch Casino & Resort Stock Down 6.3 %

Shares of Monarch Casino & Resort stock traded down $4.38 during trading hours on Thursday, reaching $65.19. 60,048 shares of the company were exchanged, compared to its average volume of 114,341. Monarch Casino & Resort has a 1 year low of $56.25 and a 1 year high of $77.19. The stock’s fifty day moving average is $70.83 and its 200 day moving average is $67.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.55 and a current ratio of 0.61. The firm has a market cap of $1.23 billion, a PE ratio of 15.60 and a beta of 1.66.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, February 14th. The company reported $0.93 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.11). The business had revenue of $128.19 million during the quarter, compared to analysts’ expectations of $119.33 million. Monarch Casino & Resort had a net margin of 16.44% and a return on equity of 17.41%. As a group, equities research analysts forecast that Monarch Casino & Resort will post 4.55 earnings per share for the current year.

Hedge Funds Weigh In On Monarch Casino & Resort

Several large investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in shares of Monarch Casino & Resort by 925.0% during the first quarter. Invesco Ltd. now owns 570,410 shares of the company’s stock worth $49,757,000 after buying an additional 514,761 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Monarch Casino & Resort by 74.7% during the fourth quarter. Pacer Advisors Inc. now owns 464,501 shares of the company’s stock worth $32,120,000 after buying an additional 198,623 shares during the period. BlackRock Inc. boosted its stake in shares of Monarch Casino & Resort by 6.1% during the first quarter. BlackRock Inc. now owns 2,264,374 shares of the company’s stock worth $167,903,000 after buying an additional 129,911 shares during the period. Cerity Partners LLC acquired a new stake in shares of Monarch Casino & Resort during the fourth quarter worth about $6,562,000. Finally, Millennium Management LLC boosted its stake in shares of Monarch Casino & Resort by 66.4% during the second quarter. Millennium Management LLC now owns 231,210 shares of the company’s stock worth $13,565,000 after buying an additional 92,274 shares during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Company Profile

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.