Monarch Casino & Resort (NASDAQ:MCRI – Get Rating) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
Other equities analysts have also recently issued research reports about the company. TheStreet cut Monarch Casino & Resort from a “b” rating to a “c+” rating in a research note on Thursday, February 16th. Stifel Nicolaus lifted their target price on Monarch Casino & Resort from $85.00 to $91.00 in a research note on Wednesday, February 15th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.00.
Monarch Casino & Resort Trading Down 2.1 %
Shares of MCRI opened at $67.77 on Tuesday. The business’s 50-day moving average price is $70.02 and its 200 day moving average price is $75.04. The stock has a market capitalization of $1.30 billion, a P/E ratio of 15.26 and a beta of 1.67. Monarch Casino & Resort has a 1-year low of $54.01 and a 1-year high of $85.67. The company has a current ratio of 0.50, a quick ratio of 0.44 and a debt-to-equity ratio of 0.11.
Insider Activity at Monarch Casino & Resort
In related news, President Bob Farahi sold 16,231 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $67.62, for a total value of $1,097,540.22. Following the completion of the sale, the president now owns 192,220 shares of the company’s stock, valued at approximately $12,997,916.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 19,964 shares of company stock valued at $1,348,073. 24.56% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Monarch Casino & Resort
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming acquired a new stake in Monarch Casino & Resort in the 4th quarter worth approximately $28,000. AXS Investments LLC acquired a new stake in Monarch Casino & Resort in the 4th quarter worth approximately $67,000. Point72 Hong Kong Ltd acquired a new stake in Monarch Casino & Resort in the 3rd quarter worth approximately $61,000. Picton Mahoney Asset Management acquired a new stake in Monarch Casino & Resort in the 3rd quarter worth approximately $62,000. Finally, UBS Group AG lifted its holdings in Monarch Casino & Resort by 214.2% in the 3rd quarter. UBS Group AG now owns 1,458 shares of the company’s stock worth $82,000 after purchasing an additional 994 shares during the last quarter. 61.47% of the stock is currently owned by institutional investors and hedge funds.
About Monarch Casino & Resort
Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.