Several other analysts have also recently issued reports on MCRI. Stifel Nicolaus raised shares of Monarch Casino & Resort from a hold rating to a buy rating and upped their price target for the company from $35.00 to $42.00 in a report on Monday, April 27th. SunTrust Banks initiated coverage on shares of Monarch Casino & Resort in a report on Wednesday, May 27th. They issued a buy rating and a $50.00 price target on the stock. Zacks Investment Research cut shares of Monarch Casino & Resort from a hold rating to a sell rating in a report on Wednesday, June 10th. Finally, Union Gaming Research raised shares of Monarch Casino & Resort to a buy rating and set a $38.00 target price on the stock in a report on Friday, April 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $47.20.
Shares of MCRI opened at $34.05 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.78 and a debt-to-equity ratio of 0.50. The stock has a market cap of $619.23 million, a P/E ratio of 20.15 and a beta of 1.49. The company has a 50-day moving average of $36.55 and a two-hundred day moving average of $39.72. Monarch Casino & Resort has a 12-month low of $12.83 and a 12-month high of $57.57.
Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.19). The firm had revenue of $51.01 million during the quarter, compared to analyst estimates of $53.45 million. Monarch Casino & Resort had a net margin of 11.11% and a return on equity of 9.39%. As a group, analysts forecast that Monarch Casino & Resort will post -0.32 EPS for the current fiscal year.
In related news, President Bob Farahi sold 16,994 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $40.65, for a total value of $690,806.10. Following the sale, the president now owns 154,423 shares of the company’s stock, valued at approximately $6,277,294.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 26.75% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MCRI. Advisor Group Holdings Inc. bought a new position in Monarch Casino & Resort in the 1st quarter valued at about $57,000. SG Americas Securities LLC grew its position in Monarch Casino & Resort by 83.5% in the 1st quarter. SG Americas Securities LLC now owns 3,956 shares of the company’s stock valued at $111,000 after buying an additional 1,800 shares in the last quarter. State of Tennessee Treasury Department grew its position in Monarch Casino & Resort by 14.3% in the 1st quarter. State of Tennessee Treasury Department now owns 3,965 shares of the company’s stock valued at $111,000 after buying an additional 495 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Monarch Casino & Resort by 42.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,570 shares of the company’s stock valued at $128,000 after buying an additional 1,373 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Monarch Casino & Resort by 191.2% during the 1st quarter. Royal Bank of Canada now owns 5,571 shares of the company’s stock valued at $156,000 after purchasing an additional 3,658 shares in the last quarter. Hedge funds and other institutional investors own 61.92% 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/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of February 20, 2019, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.
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