Monarch Casino & Resort (MCRI) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a hold rating to a buy rating in a report issued on Friday.

Other equities research analysts also recently issued reports about the stock. Union Gaming Research upgraded shares of Monarch Casino & Resort from a hold rating to a buy rating in a research note on Wednesday, October 25th. UBS Group upgraded shares of Monarch Casino & Resort from a hold rating to a buy rating in a research note on Wednesday, October 25th. Zacks Investment Research upgraded shares of Monarch Casino & Resort from a hold rating to a buy rating and set a $45.00 price objective for the company in a research note on Wednesday, October 11th. BidaskClub downgraded shares of Monarch Casino & Resort from a strong-buy rating to a buy rating in a research note on Wednesday, December 27th. Finally, Jefferies Group initiated coverage on shares of Monarch Casino & Resort in a research note on Thursday, January 18th. They set an underperform rating and a $39.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $50.40.

Monarch Casino & Resort (NASDAQ:MCRI) opened at $43.00 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.08 and a current ratio of 1.17. Monarch Casino & Resort has a 52-week low of $23.29 and a 52-week high of $47.92. The company has a market cap of $791.92, a P/E ratio of 29.43 and a beta of 1.15.

In other Monarch Casino & Resort news, President Bob Farahi sold 26,200 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $47.21, for a total transaction of $1,236,902.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 84,876 shares of company stock valued at $3,941,320. 27.56% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in MCRI. EAM Investors LLC purchased a new position in shares of Monarch Casino & Resort in the third quarter valued at $2,200,000. Intrinsic Edge Capital Management LLC purchased a new position in shares of Monarch Casino & Resort in the second quarter valued at $1,500,000. Acadian Asset Management LLC boosted its stake in shares of Monarch Casino & Resort by 373.2% in the fourth quarter. Acadian Asset Management LLC now owns 51,402 shares of the company’s stock valued at $2,303,000 after purchasing an additional 40,540 shares during the period. Northern Trust Corp boosted its stake in shares of Monarch Casino & Resort by 22.5% in the second quarter. Northern Trust Corp now owns 186,787 shares of the company’s stock valued at $5,650,000 after purchasing an additional 34,321 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Monarch Casino & Resort by 4.9% in the second quarter. Vanguard Group Inc. now owns 608,959 shares of the company’s stock valued at $18,421,000 after purchasing an additional 28,267 shares during the period. Institutional investors and hedge funds own 58.40% of the company’s stock.

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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 segments include Atlantis and Monarch Casino Black Hawk.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Monarch Casino & Resort (NASDAQ:MCRI)

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