Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Get Free Report) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $109.50.
A number of research firms recently commented on MCRI. Stifel Nicolaus boosted their price objective on shares of Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Wells Fargo & Company boosted their price objective on shares of Monarch Casino & Resort from $97.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. Truist Financial boosted their price objective on shares of Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Monarch Casino & Resort in a research report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th.
Check Out Our Latest Research Report on Monarch Casino & Resort
Monarch Casino & Resort Trading Up 0.3%
Monarch Casino & Resort (NASDAQ:MCRI – Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.37. The firm had revenue of $136.55 million for the quarter, compared to the consensus estimate of $128.49 million. Monarch Casino & Resort had a net margin of 19.62% and a return on equity of 19.98%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities research analysts expect that Monarch Casino & Resort will post 7.07 earnings per share for the current year.
Monarch Casino & Resort Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.30 per share. The ex-dividend date is Monday, June 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. Monarch Casino & Resort’s payout ratio is presently 20.34%.
Insider Transactions at Monarch Casino & Resort
In other Monarch Casino & Resort news, CEO John Farahi sold 5,000 shares of Monarch Casino & Resort stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the transaction, the chief executive officer owned 616,556 shares in the company, valued at approximately $74,504,627.04. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 26.34% of the company’s stock.
Hedge Funds Weigh In On Monarch Casino & Resort
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. raised its position in Monarch Casino & Resort by 210.0% during the second quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after acquiring an additional 315 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Monarch Casino & Resort during the fourth quarter worth about $40,000. GAMMA Investing LLC raised its position in Monarch Casino & Resort by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock worth $94,000 after acquiring an additional 106 shares during the last quarter. Parallel Advisors LLC raised its position in Monarch Casino & Resort by 191.3% during the first quarter. Parallel Advisors LLC now owns 1,136 shares of the company’s stock worth $109,000 after acquiring an additional 746 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Monarch Casino & Resort by 69.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company’s stock worth $110,000 after acquiring an additional 524 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.
Monarch Casino & Resort Company Profile
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.
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