Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Average Recommendation of “Hold” by Brokerages

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been assigned an average recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $99.80.

MCRI has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday. Jefferies Financial Group reaffirmed a “hold” rating and set a $112.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Wall Street Zen downgraded shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $92.00 to $97.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd.

Insiders Place Their Bets

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $100.63, for a total value of $100,630.00. Following the completion of the sale, the chief executive officer directly owned 553,110 shares of the company’s stock, valued at $55,659,459.30. This trade represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 25.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MCRI. Tributary Capital Management LLC raised its stake in Monarch Casino & Resort by 57.8% in the 3rd quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock valued at $41,204,000 after acquiring an additional 142,621 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Monarch Casino & Resort by 77.1% in the third quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company’s stock valued at $19,951,000 after purchasing an additional 82,035 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Monarch Casino & Resort by 64.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company’s stock valued at $18,943,000 after buying an additional 70,185 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Monarch Casino & Resort by 20.0% during the 2nd quarter. Geode Capital Management LLC now owns 391,868 shares of the company’s stock valued at $33,877,000 after buying an additional 65,272 shares in the last quarter. Finally, Clark Capital Management Group Inc. bought a new position in Monarch Casino & Resort in the 3rd quarter worth approximately $6,192,000. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

MCRI opened at $98.87 on Friday. Monarch Casino & Resort has a fifty-two week low of $69.99 and a fifty-two week high of $113.88. The firm has a market capitalization of $1.80 billion, a P/E ratio of 18.21 and a beta of 1.34. The company’s 50-day moving average is $94.88 and its 200 day moving average is $97.81.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.12). Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The firm had revenue of $140.00 million during the quarter, compared to the consensus estimate of $139.39 million. During the same period in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts expect that Monarch Casino & Resort will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.30 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.20 annualized dividend and a yield of 1.2%. Monarch Casino & Resort’s dividend payout ratio is presently 21.66%.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.