Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has received an average broker rating score of 3.00 (Hold) from the three analysts that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation.
Brokers have set a 1-year consensus price objective of $27.00 for the company and are predicting that the company will post $0.31 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Monarch Casino & Resort an industry rank of 157 out of 265 based on the ratings given to related companies.
MCRI has been the topic of a number of recent analyst reports. Gabelli initiated coverage on Monarch Casino & Resort in a research note on Friday, October 14th. They set a “hold” rating and a $27.00 price target on the stock. Zacks Investment Research lowered Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th.
In related news, COO David-Jacques Farahi sold 5,000 shares of the stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $24.76, for a total value of $123,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 27.91% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Park West Asset Management LLC raised its position in shares of Monarch Casino & Resort by 49.9% in the third quarter. Park West Asset Management LLC now owns 450,000 shares of the company’s stock valued at $11,327,000 after buying an additional 149,729 shares during the period. New Amsterdam Partners LLC NY purchased a new position in shares of Monarch Casino & Resort during the third quarter valued at $1,981,000. BlackRock Fund Advisors raised its position in shares of Monarch Casino & Resort by 9.5% in the third quarter. BlackRock Fund Advisors now owns 767,390 shares of the company’s stock valued at $19,315,000 after buying an additional 66,785 shares during the period. Argent Capital Management LLC raised its position in shares of Monarch Casino & Resort by 72.1% in the third quarter. Argent Capital Management LLC now owns 97,662 shares of the company’s stock valued at $2,458,000 after buying an additional 40,922 shares during the period. Finally, Numeric Investors LLC purchased a new position in shares of Monarch Casino & Resort during the second quarter valued at $851,000. 55.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of Monarch Casino & Resort (NASDAQ:MCRI) traded down 1.95% during mid-day trading on Friday, reaching $23.62. The company’s stock had a trading volume of 32,868 shares. Monarch Casino & Resort has a 52 week low of $17.29 and a 52 week high of $27.46. The firm has a 50-day moving average of $25.12 and a 200-day moving average of $24.27. The firm has a market capitalization of $410.23 million, a PE ratio of 17.89 and a beta of 0.97.
Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Monarch Casino & Resort had a return on equity of 10.88% and a net margin of 10.91%. Equities research analysts forecast that Monarch Casino & Resort will post $1.36 earnings per share for the current fiscal year.
About Monarch Casino & Resort
Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s operating segments include Atlantis and Monarch Casino Black Hawk.
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