Monarch Casino & Resort (NASDAQ:MCRI) Reaches New 12-Month High at $61.28

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) shares hit a new 52-week high on Thursday . The stock traded as high as $61.28 and last traded at $61.28, with a volume of 380 shares traded. The stock had previously closed at $60.11.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Thursday, October 1st. Truist upped their price target on shares of Monarch Casino & Resort from $60.00 to $65.00 in a research report on Monday, November 30th. BidaskClub raised shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 22nd. Finally, Macquarie increased their target price on shares of Monarch Casino & Resort from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, December 2nd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $50.29.

The stock’s 50-day moving average is $54.15 and its 200 day moving average is $44.84. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.84 and a quick ratio of 0.72. The company has a market cap of $1.12 billion, a PE ratio of 79.51 and a beta of 1.64.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Thursday, October 29th. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.43. The company had revenue of $59.87 million during the quarter, compared to analysts’ expectations of $46.55 million. Monarch Casino & Resort had a net margin of 7.77% and a return on equity of 5.54%. On average, analysts expect that Monarch Casino & Resort, Inc. will post 1.08 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley raised its holdings in shares of Monarch Casino & Resort by 0.6% in the third quarter. Morgan Stanley now owns 37,348 shares of the company’s stock worth $1,665,000 after buying an additional 229 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Monarch Casino & Resort by 1.3% in the first quarter. First Trust Advisors LP now owns 21,559 shares of the company’s stock worth $947,000 after buying an additional 269 shares during the last quarter. Aperio Group LLC raised its holdings in shares of Monarch Casino & Resort by 4.1% in the third quarter. Aperio Group LLC now owns 7,759 shares of the company’s stock worth $346,000 after buying an additional 305 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Monarch Casino & Resort by 2.3% in the second quarter. Great West Life Assurance Co. Can now owns 14,446 shares of the company’s stock worth $490,000 after buying an additional 324 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Monarch Casino & Resort by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 10,558 shares of the company’s stock worth $471,000 after buying an additional 519 shares during the last quarter. 55.03% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Company Profile (NASDAQ:MCRI)

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 March 11, 2020, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 818 guest rooms; 8 food outlets; 2 gourmet coffee and pastry bars; 1 snack bar; 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.

Further Reading: What is the quiet period?

Receive News & Ratings for Monarch Casino & Resort Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monarch Casino & Resort and related companies with MarketBeat.com's FREE daily email newsletter.