Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives $84.00 Average PT from Brokerages

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has earned an average recommendation of “Hold” from the five research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $84.00.

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

Monarch Casino & Resort Stock Down 0.3 %

Shares of Monarch Casino & Resort stock opened at $85.88 on Tuesday. The firm has a market capitalization of $1.58 billion, a P/E ratio of 19.00 and a beta of 1.73. Monarch Casino & Resort has a 52 week low of $64.50 and a 52 week high of $89.06. The company has a 50 day moving average price of $82.47 and a 200 day moving average price of $78.47.

Insider Transactions at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the sale, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at $41,059,477.20. This represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 24.94% of the company’s stock.

Institutional Investors Weigh In On Monarch Casino & Resort

Several large investors have recently modified their holdings of MCRI. Dimensional Fund Advisors LP lifted its holdings in shares of Monarch Casino & Resort by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock valued at $11,949,000 after buying an additional 9,990 shares during the period. 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 in the last quarter. Public Sector Pension Investment Board lifted its holdings in Monarch Casino & Resort by 4.1% in the second quarter. Public Sector Pension Investment Board now owns 28,829 shares of the company’s stock valued at $1,964,000 after acquiring an additional 1,124 shares during the period. Marshall Wace LLP purchased a new stake in shares of Monarch Casino & Resort during the 2nd quarter worth $298,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Monarch Casino & Resort during the 2nd quarter worth $516,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

About Monarch Casino & Resort

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.