Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $109.50.

MCRI has been the topic of several research analyst reports. Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th. Stifel Nicolaus increased their price objective on Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Monarch Casino & Resort in a research note on Wednesday, May 27th. Zacks Research raised Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, Truist Financial increased their price objective on Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd.

Monarch Casino & Resort Stock Performance

MCRI opened at $127.82 on Friday. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 21.66 and a beta of 1.30. The stock’s 50 day moving average price is $114.74 and its 200-day moving average price is $102.44. Monarch Casino & Resort has a one year low of $82.84 and a one year high of $132.91.

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 firm had revenue of $136.55 million for 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 business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts predict that Monarch Casino & Resort will post 7.07 earnings per share for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.20 annualized dividend and a yield of 0.9%. Monarch Casino & Resort’s dividend payout ratio is 20.34%.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.84, for a total value of $604,200.00. Following the transaction, the chief executive officer owned 616,556 shares of the company’s stock, valued at $74,504,627.04. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 26.34% of the stock is currently owned by company insiders.

Institutional Trading of Monarch Casino & Resort

A number of hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in Monarch Casino & Resort by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock worth $94,000 after buying an additional 106 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Monarch Casino & Resort by 2.2% during the third quarter. Illinois Municipal Retirement Fund now owns 6,703 shares of the company’s stock worth $709,000 after buying an additional 142 shares during the period. Mariner LLC lifted its holdings in Monarch Casino & Resort by 6.5% during the third quarter. Mariner LLC now owns 2,493 shares of the company’s stock worth $264,000 after buying an additional 152 shares during the period. Vident Advisory LLC lifted its holdings in Monarch Casino & Resort by 3.5% during the second quarter. Vident Advisory LLC now owns 5,566 shares of the company’s stock worth $481,000 after buying an additional 186 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Monarch Casino & Resort by 6.0% during the fourth quarter. Panagora Asset Management Inc. now owns 3,490 shares of the company’s stock worth $334,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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.