Monarch Casino & Resort (NASDAQ:MCRI) Hits New 1-Year High – What’s Next?

Monarch Casino & Resort, Inc. (NASDAQ:MCRI)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $84.15 and last traded at $83.88, with a volume of 7133 shares trading hands. The stock had previously closed at $83.14.

Analyst Ratings Changes

Several brokerages have issued reports on MCRI. Truist Financial increased their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Macquarie reaffirmed a “neutral” rating and set a $76.00 price target on shares of Monarch Casino & Resort in a research note on Thursday, July 25th.

Monarch Casino & Resort Trading Up 0.2 %

The company has a market cap of $1.54 billion, a PE ratio of 18.48 and a beta of 1.73. The business has a fifty day moving average of $77.71 and a 200-day moving average of $72.67.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.10. The firm had revenue of $137.87 million during the quarter, compared to analyst estimates of $134.50 million. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same quarter in the prior year, the company earned $1.38 EPS. As a group, research analysts predict that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

Institutional Trading of Monarch Casino & Resort

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. purchased a new stake in shares of Monarch Casino & Resort in the 3rd quarter worth approximately $30,000. GAMMA Investing LLC boosted its stake in Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after purchasing an additional 178 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Monarch Casino & Resort during the 2nd quarter valued at $53,000. Canada Pension Plan Investment Board purchased a new stake in Monarch Casino & Resort during the 2nd quarter valued at $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Monarch Casino & Resort by 81.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after purchasing an additional 1,221 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

About Monarch Casino & Resort

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.