Wells Fargo & Company Begins Coverage on Monarch Casino & Resort (NASDAQ:MCRI)

Wells Fargo & Company began coverage on shares of Monarch Casino & Resort (NASDAQ:MCRI) in a research report sent to investors on Monday, MarketBeat Ratings reports. The firm issued an underweight rating and a $79.00 price target on the stock.

Several other research analysts have also commented on the stock. Truist Financial boosted their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. StockNews.com raised Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 28th. Finally, Stifel Nicolaus raised their price objective 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Monarch Casino & Resort has a consensus rating of “Hold” and a consensus target price of $78.50.

Monarch Casino & Resort Trading Down 3.6 %

Shares of NASDAQ:MCRI opened at $79.18 on Monday. The company has a market capitalization of $1.46 billion, a PE ratio of 17.52 and a beta of 1.72. Monarch Casino & Resort has a 12-month low of $64.50 and a 12-month high of $89.06. The business’s fifty day simple moving average is $81.51 and its 200-day simple moving average is $75.59.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.10. The company had revenue of $137.87 million for 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 previous year, the firm earned $1.38 earnings per share. Research analysts predict that Monarch Casino & Resort will post 4.72 EPS for the current year.

Institutional Trading of Monarch Casino & Resort

Several large investors have recently bought and sold shares of MCRI. Trust Point Inc. grew its stake in Monarch Casino & Resort by 1.5% during the 3rd quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock valued at $873,000 after purchasing an additional 162 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Monarch Casino & Resort by 61.0% during the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after purchasing an additional 178 shares during the period. Sei Investments Co. boosted its position in Monarch Casino & Resort by 1.4% in the second quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock valued at $1,342,000 after buying an additional 271 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in Monarch Casino & Resort in the 3rd quarter worth approximately $30,000. Finally, Franklin Resources Inc. raised its position in Monarch Casino & Resort by 7.3% during the 3rd quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock worth $665,000 after buying an additional 597 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Company Profile

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.