TheStreet upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a c+ rating to a b rating in a research report released on Wednesday morning, TheStreetRatingsTable reports.
A number of other equities analysts also recently issued reports on MCRI. Zacks Investment Research raised Monarch Casino & Resort from a sell rating to a hold rating and set a $77.00 price target for the company in a report on Wednesday, April 28th. Truist increased their price objective on Monarch Casino & Resort from $70.00 to $77.00 in a report on Tuesday, April 27th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $65.50.
Shares of Monarch Casino & Resort stock opened at $70.95 on Wednesday. The business has a 50-day simple moving average of $68.76 and a 200-day simple moving average of $60.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.54 and a current ratio of 0.60. The company has a market cap of $1.31 billion, a PE ratio of 45.03 and a beta of 1.78. Monarch Casino & Resort has a one year low of $30.29 and a one year high of $76.00.
Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, April 27th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. The firm had revenue of $74.96 million during the quarter, compared to the consensus estimate of $62.50 million. Monarch Casino & Resort had a return on equity of 8.27% and a net margin of 14.31%. On average, sell-side analysts predict that Monarch Casino & Resort will post 2.63 earnings per share for the current fiscal year.
In other news, COO David-Jacques Farahi sold 29,700 shares of the stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $70.93, for a total value of $2,106,621.00. Following the completion of the sale, the chief operating officer now directly owns 92,116 shares of the company’s stock, valued at $6,533,787.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.75% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of Monarch Casino & Resort during the first quarter worth approximately $219,000. Squarepoint Ops LLC purchased a new stake in shares of Monarch Casino & Resort during the first quarter worth approximately $645,000. D. E. Shaw & Co. Inc. raised its stake in shares of Monarch Casino & Resort by 20.3% during the first quarter. D. E. Shaw & Co. Inc. now owns 75,969 shares of the company’s stock worth $4,605,000 after purchasing an additional 12,818 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Monarch Casino & Resort during the first quarter worth approximately $1,764,000. Finally, Jane Street Group LLC purchased a new stake in shares of Monarch Casino & Resort during the first quarter worth approximately $371,000. Institutional investors and hedge funds own 60.03% 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 Resort Spa Black Hawk in Black Hawk, Colorado. As of February 24, 2021, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 818 guest rooms and suites; 8 food outlets; 2 gourmet coffee 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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