Brokerages Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) PT at $99.80

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $99.80.

A number of equities research analysts have commented on MCRI shares. Zacks Research upgraded Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Jefferies Financial Group reiterated a “hold” rating and set a $112.00 price target on shares of Monarch Casino & Resort in a report on Wednesday, December 24th. Wells Fargo & Company raised their price objective on Monarch Casino & Resort from $92.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th.

Insider Buying and Selling at Monarch Casino & Resort

In other Monarch Casino & Resort news, CEO John Farahi sold 2,000 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $99.00, for a total value of $198,000.00. Following the completion of the transaction, the chief executive officer owned 536,304 shares in the company, valued at $53,094,096. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 25.52% of the company’s stock.

Institutional Investors Weigh In On Monarch Casino & Resort

A number of hedge funds and other institutional investors have recently modified their holdings of MCRI. Hsbc Holdings PLC grew its stake in shares of Monarch Casino & Resort by 26.1% during the fourth quarter. Hsbc Holdings PLC now owns 6,269 shares of the company’s stock worth $599,000 after purchasing an additional 1,299 shares in the last quarter. Aristides Capital LLC raised its stake in Monarch Casino & Resort by 18.6% in the fourth quarter. Aristides Capital LLC now owns 3,174 shares of the company’s stock valued at $304,000 after buying an additional 498 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Monarch Casino & Resort by 2,489.3% during the 4th quarter. Pacer Advisors Inc. now owns 50,311 shares of the company’s stock worth $4,815,000 after buying an additional 48,368 shares during the last quarter. Invesco Ltd. lifted its holdings in Monarch Casino & Resort by 38.2% during the 4th quarter. Invesco Ltd. now owns 194,371 shares of the company’s stock worth $18,601,000 after buying an additional 53,745 shares during the last quarter. Finally, Vident Advisory LLC boosted its position in shares of Monarch Casino & Resort by 0.7% during the 4th quarter. Vident Advisory LLC now owns 30,535 shares of the company’s stock worth $2,922,000 after acquiring an additional 218 shares in the last quarter. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI opened at $96.68 on Friday. The company’s 50-day moving average is $95.82 and its two-hundred day moving average is $96.26. Monarch Casino & Resort has a 1-year low of $69.99 and a 1-year high of $113.88. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 17.80 and a beta of 1.30.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.12). Monarch Casino & Resort had a net margin of 18.60% and a return on equity of 18.68%. The firm had revenue of $140.00 million for the quarter, compared to analysts’ expectations of $139.39 million. During the same period in the previous year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, March 2nd. Monarch Casino & Resort’s payout ratio is currently 22.10%.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.