Monarch Casino & Resort (NASDAQ:MCRI) PT Raised to $82.00

by · The Cerbat Gem

Monarch Casino & Resort (NASDAQ:MCRI – Get Free Report) had its target price boosted by equities research analysts at Truist Financial from $75.00 to $82.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target would suggest a potential upside of 4.55% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Macquarie reiterated a “neutral” rating and set a $76.00 price objective on shares of Monarch Casino & Resort in a research note on Thursday, July 25th. StockNews.com upgraded Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Check Out Our Latest Stock Analysis on MCRI

Monarch Casino & Resort Stock Performance

NASDAQ:MCRI opened at $78.43 on Wednesday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 18.54 and a beta of 1.73. Monarch Casino & Resort has a 1 year low of $57.88 and a 1 year high of $80.22. The business has a fifty day moving average of $75.90 and a 200-day moving average of $71.52.

Monarch Casino & Resort (NASDAQ:MCRI – Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported $1.19 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 for the quarter, compared to analysts’ expectations of $126.03 million. On average, equities research analysts predict that Monarch Casino & Resort will post 4.62 EPS for the current year.

Institutional Trading of Monarch Casino & Resort

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp raised its holdings in Monarch Casino & Resort by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 11,682 shares of the company’s stock worth $876,000 after buying an additional 152 shares during the period. Trust Point Inc. raised its holdings in shares of Monarch Casino & Resort by 1.5% during the third quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock valued at $873,000 after acquiring an additional 162 shares during the period. GAMMA Investing LLC raised its holdings in shares of Monarch Casino & Resort by 61.0% during the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after acquiring an additional 178 shares during the period. Pitcairn Co. lifted its position in shares of Monarch Casino & Resort by 4.3% in the 1st quarter. Pitcairn Co. now owns 5,698 shares of the company’s stock valued at $427,000 after acquiring an additional 235 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Monarch Casino & Resort by 1.4% in the 2nd quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock worth $1,342,000 after purchasing an additional 271 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Company Profile

(Get Free Report)

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.

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