Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have earned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $109.50.

A number of research analysts have recently commented on MCRI shares. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $97.00 to $102.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Truist Financial raised their target price on Monarch Casino & Resort from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Zacks Research upgraded Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Wells Fargo & Company raised their target price on Monarch Casino & Resort from $97.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th.

Insider Transactions at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction on Monday, March 16th. The stock was sold at an average price of $99.00, for a total transaction of $198,000.00. Following the completion of the transaction, the chief executive officer owned 536,304 shares in the company, valued at approximately $53,094,096. The trade was a 0.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 26.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MCRI. Osaic Holdings Inc. raised its stake in Monarch Casino & Resort by 210.0% during the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock valued at $40,000 after buying an additional 315 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Monarch Casino & Resort during the fourth quarter valued at $40,000. TD Private Client Wealth LLC raised its stake in Monarch Casino & Resort by 57.1% during the third quarter. TD Private Client Wealth LLC now owns 594 shares of the company’s stock valued at $63,000 after buying an additional 216 shares during the last quarter. GAMMA Investing LLC raised its stake in Monarch Casino & Resort by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock valued at $94,000 after buying an additional 106 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Monarch Casino & Resort by 191.3% during the first quarter. Parallel Advisors LLC now owns 1,136 shares of the company’s stock valued at $109,000 after buying an additional 746 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

MCRI opened at $116.81 on Monday. The stock has a market cap of $2.07 billion, a PE ratio of 19.80 and a beta of 1.32. The business has a 50 day moving average of $106.02 and a 200-day moving average of $99.07. Monarch Casino & Resort has a 52 week low of $80.39 and a 52 week high of $121.38.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.37. The company had revenue of $136.55 million during the quarter, compared to analysts’ expectations of $128.49 million. Monarch Casino & Resort had a return on equity of 19.98% and a net margin of 19.62%.The company’s revenue was up 8.9% on a year-over-year basis. Equities analysts anticipate that Monarch Casino & Resort will post 7.07 EPS for the current year.

Monarch Casino & Resort Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, June 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. Monarch Casino & Resort’s payout ratio is presently 20.34%.

Monarch Casino & Resort Company Profile

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.