Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Average Rating of “Hold” from Analysts

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have earned an average recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $84.00.

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 22nd. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Jefferies Financial Group boosted their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Wells Fargo & Company assumed coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target on the stock. Finally, Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their price objective for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th.

Insider Activity at Monarch Casino & Resort

In other news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the transaction, the chief executive officer now owns 528,436 shares in the company, valued at approximately $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 24.94% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new position in shares of Monarch Casino & Resort during the third quarter worth about $30,000. GAMMA Investing LLC raised its holdings in Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after purchasing an additional 178 shares during the last quarter. KBC Group NV lifted its position in shares of Monarch Casino & Resort by 67.8% in the 4th quarter. KBC Group NV now owns 980 shares of the company’s stock worth $77,000 after purchasing an additional 396 shares during the period. Independence Bank of Kentucky bought a new stake in shares of Monarch Casino & Resort in the 4th quarter valued at $93,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Monarch Casino & Resort by 30.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after buying an additional 400 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Stock Up 1.1 %

MCRI stock opened at $84.94 on Tuesday. The company’s 50-day moving average price is $82.32 and its two-hundred day moving average price is $78.24. The firm has a market cap of $1.56 billion, a P/E ratio of 18.79 and a beta of 1.73. Monarch Casino & Resort has a 12 month low of $64.50 and a 12 month high of $89.06.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.