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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been assigned a consensus rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $124.40.

A number of equities research analysts have issued reports on MCRI shares. UBS Group set a $124.00 target price on shares of Monarch Casino & Resort in a research note on Thursday, July 2nd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Monarch Casino & Resort in a research note on Thursday, July 2nd. Wall Street Zen lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Stifel Nicolaus lifted their price objective on Monarch Casino & Resort from $102.00 to $128.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Zacks Research downgraded Monarch Casino & Resort from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd.

Insider Activity

In other news, CEO John Farahi sold 5,000 shares of Monarch Casino & Resort stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the sale, the chief executive officer directly owned 616,556 shares in the company, valued at $74,504,627.04. The trade was a 0.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 26.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Monarch Casino & Resort

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCRI. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Monarch Casino & Resort in the second quarter valued at approximately $2,800,000. California State Teachers Retirement System increased its stake in shares of Monarch Casino & Resort by 14,508.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,842,540 shares of the company’s stock worth $242,497,000 after purchasing an additional 1,829,927 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Monarch Casino & Resort by 23.2% during the 2nd quarter. Wellington Management Group LLP now owns 188,715 shares of the company’s stock worth $24,837,000 after purchasing an additional 35,536 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Monarch Casino & Resort during the 2nd quarter valued at $230,000. Finally, Brasada Capital Management LP bought a new position in shares of Monarch Casino & Resort during the 2nd quarter valued at $921,000. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Price Performance

NASDAQ MCRI opened at $123.71 on Wednesday. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 19.83 and a beta of 1.31. The company has a 50 day simple moving average of $125.34 and a 200-day simple moving average of $113.18. Monarch Casino & Resort has a 52-week low of $88.13 and a 52-week high of $135.93.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Monday, July 20th. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $142.60 million for the quarter, compared to the consensus estimate of $142.85 million. Monarch Casino & Resort had a net margin of 20.40% and a return on equity of 20.63%. Monarch Casino & Resort’s revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that Monarch Casino & Resort will post 6.98 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. Monarch Casino & Resort’s dividend payout ratio (DPR) is 19.23%.

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.