Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Four equities research 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 12 month target price among analysts that have covered the stock in the last year is $99.80.

Several research firms have recently issued reports on MCRI. Weiss Ratings restated a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Jefferies Financial Group reissued a “hold” rating and set a $112.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Zacks Research upgraded Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. Finally, Wells Fargo & Company upped their price target on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th.

Insider Buying and Selling

In related news, CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was 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 directly owned 536,304 shares of the company’s stock, valued at $53,094,096. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 25.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in shares of Monarch Casino & Resort by 199.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 329 shares of the company’s stock valued at $35,000 after acquiring an additional 219 shares in the last quarter. Osaic Holdings Inc. raised its position in Monarch Casino & Resort by 210.0% in the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after purchasing an additional 315 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Monarch Casino & Resort during the fourth quarter worth about $40,000. USA Financial Formulas bought a new position in Monarch Casino & Resort during the third quarter worth about $47,000. Finally, TD Private Client Wealth LLC boosted its holdings in Monarch Casino & Resort by 57.1% during the third quarter. TD Private Client Wealth LLC now owns 594 shares of the company’s stock valued at $63,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

MCRI opened at $96.68 on Friday. Monarch Casino & Resort has a 1-year low of $69.99 and a 1-year high of $113.88. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 17.80 and a beta of 1.30. The business has a 50 day moving average of $95.94 and a 200-day moving average of $96.19.

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

Monarch Casino & Resort Announces Dividend

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