Monarch Casino & Resort (NASDAQ:MCRI) Hits New 1-Year High Following Analyst Upgrade

Monarch Casino & Resort, Inc. (NASDAQ:MCRIGet Rating)’s stock price hit a new 52-week high during trading on Tuesday after Truist Financial raised their price target on the stock from $88.00 to $100.00. Truist Financial currently has a buy rating on the stock. Monarch Casino & Resort traded as high as $89.75 and last traded at $89.75, with a volume of 1081 shares trading hands. The stock had previously closed at $86.94.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group reduced their target price on shares of Monarch Casino & Resort from $83.00 to $82.00 in a report on Friday, January 21st. Stifel Nicolaus increased their price target on shares of Monarch Casino & Resort from $91.00 to $96.00 in a report on Monday. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 14th. Finally, Zacks Investment Research cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th.

Institutional investors and hedge funds have recently modified their holdings of the business. O Shaughnessy Asset Management LLC grew its position in Monarch Casino & Resort by 34.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 856 shares of the company’s stock worth $57,000 after buying an additional 219 shares during the period. Morgan Dempsey Capital Management LLC grew its position in Monarch Casino & Resort by 20.5% during the third quarter. Morgan Dempsey Capital Management LLC now owns 1,481 shares of the company’s stock worth $99,000 after buying an additional 252 shares during the period. Royal Bank of Canada grew its position in Monarch Casino & Resort by 33.6% during the second quarter. Royal Bank of Canada now owns 2,012 shares of the company’s stock worth $133,000 after buying an additional 506 shares during the period. SG Americas Securities LLC acquired a new position in Monarch Casino & Resort during the third quarter worth about $188,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Monarch Casino & Resort during the fourth quarter worth about $188,000. Institutional investors own 63.41% of the company’s stock.

The firm’s 50-day simple moving average is $81.98 and its two-hundred day simple moving average is $73.51. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 25.41 and a beta of 1.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.60 and a quick ratio of 0.54.

Monarch Casino & Resort (NASDAQ:MCRIGet Rating) last released its quarterly earnings results on Wednesday, February 9th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.90 by $0.12. The business had revenue of $111.07 million for the quarter, compared to analyst estimates of $97.03 million. Monarch Casino & Resort had a net margin of 17.32% and a return on equity of 16.57%. On average, analysts expect that Monarch Casino & Resort, Inc. will post 4.99 EPS for the current fiscal year.

Monarch Casino & Resort Company Profile (NASDAQ:MCRI)

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. The company also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. As of December 31, 2021, its 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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