Monarch Casino & Resort Inc. (MCRI) Coverage Initiated by Analysts at Gabelli

Gabelli began coverage on shares of Monarch Casino & Resort Inc. (NASDAQ:MCRI) in a research report report published on Friday. The firm issued a hold rating and a $27.00 price target on the stock.

Separately, Zacks Investment Research downgraded Monarch Casino & Resort from a strong-buy rating to a hold rating in a report on Wednesday, September 21st.

Monarch Casino & Resort (NASDAQ:MCRI) traded down 0.25% during mid-day trading on Friday, reaching $23.86. The company’s stock had a trading volume of 642 shares. The firm has a market capitalization of $413.16 million, a P/E ratio of 19.26 and a beta of 0.86. Monarch Casino & Resort has a 52 week low of $17.29 and a 52 week high of $25.55. The firm’s 50 day moving average price is $24.08 and its 200 day moving average price is $22.14.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, July 20th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by $0.02. Monarch Casino & Resort had a return on equity of 10.57% and a net margin of 10.40%. On average, analysts anticipate that Monarch Casino & Resort will post $1.29 EPS for the current fiscal year.

In related news, President Bob Farahi sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $24.24, for a total value of $242,400.00. Following the completion of the transaction, the president now owns 516,614 shares in the company, valued at approximately $12,522,723.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.91% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MCRI. Uniplan Investment Counsel Inc. boosted its position in Monarch Casino & Resort by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 215,282 shares of the company’s stock valued at $4,189,000 after buying an additional 732 shares during the period. Geode Capital Management LLC boosted its position in Monarch Casino & Resort by 7.6% in the first quarter. Geode Capital Management LLC now owns 69,977 shares of the company’s stock valued at $1,361,000 after buying an additional 4,972 shares during the period. Wellington Management Group LLP boosted its position in Monarch Casino & Resort by 1.1% in the first quarter. Wellington Management Group LLP now owns 442,677 shares of the company’s stock valued at $8,615,000 after buying an additional 4,950 shares during the period. Lafitte Capital Management LP boosted its position in Monarch Casino & Resort by 3.3% in the first quarter. Lafitte Capital Management LP now owns 631,353 shares of the company’s stock valued at $12,286,000 after buying an additional 20,000 shares during the period. Finally, California State Teachers Retirement System boosted its position in Monarch Casino & Resort by 3.5% in the second quarter. California State Teachers Retirement System now owns 22,266 shares of the company’s stock valued at $489,000 after buying an additional 757 shares during the period. Hedge funds and other institutional investors own 55.46% of the company’s stock.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s operating segments include Atlantis and Monarch Casino Black Hawk.

5 Day Chart for NASDAQ:MCRI

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