Monarch Casino & Resort (NASDAQ:MCRI) Stock Rating Upgraded by StockNews.com

Monarch Casino & Resort (NASDAQ:MCRI) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial increased their price objective on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Macquarie restated a “neutral” rating and issued a $76.00 price target on shares of Monarch Casino & Resort in a report on Thursday, July 25th.

Monarch Casino & Resort Price Performance

Shares of NASDAQ:MCRI opened at $73.76 on Monday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 17.44 and a beta of 1.73. The firm has a 50 day simple moving average of $75.81 and a 200 day simple moving average of $71.45. Monarch Casino & Resort has a one year low of $57.88 and a one year high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. The firm had revenue of $128.14 million during the quarter, compared to analysts’ expectations of $126.03 million. As a group, analysts expect that Monarch Casino & Resort will post 4.62 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MCRI. Texas Permanent School Fund Corp lifted its position in shares of Monarch Casino & Resort by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 11,682 shares of the company’s stock valued at $876,000 after purchasing an additional 152 shares in the last quarter. Trust Point Inc. raised its position in Monarch Casino & Resort by 1.5% in the third quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock worth $873,000 after acquiring an additional 162 shares during the period. GAMMA Investing LLC raised its position in Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after acquiring an additional 178 shares during the period. Pitcairn Co. raised its position in Monarch Casino & Resort by 4.3% in the first quarter. Pitcairn Co. now owns 5,698 shares of the company’s stock worth $427,000 after acquiring an additional 235 shares during the period. Finally, Sei Investments Co. raised its position in Monarch Casino & Resort by 1.4% in the second quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock worth $1,342,000 after acquiring an additional 271 shares during the period. 62.37% of the stock is owned by institutional investors.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.