Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Short Interest Update

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 170,200 shares, a decline of 40.4% from the March 15th total of 285,400 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 113,300 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analyst Weigh In

Several analysts have commented on MCRI shares. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and upped their price objective for the stock from $82.00 to $100.00 in a research report on Tuesday, January 14th. Jefferies Financial Group boosted their target price on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Stifel Nicolaus lifted their price objective on shares of Monarch Casino & Resort from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company increased their target price on shares of Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $87.20.

Monarch Casino & Resort Stock Up 1.1 %

MCRI stock traded up $0.84 during mid-day trading on Thursday, hitting $75.63. 105,029 shares of the company were exchanged, compared to its average volume of 118,838. Monarch Casino & Resort has a 12-month low of $64.50 and a 12-month high of $96.11. The firm has a market capitalization of $1.40 billion, a P/E ratio of 15.28 and a beta of 1.57. The business has a fifty day simple moving average of $83.50 and a 200-day simple moving average of $82.04.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same quarter last year, the business posted $1.03 EPS. Research analysts predict that Monarch Casino & Resort will post 5.13 EPS for the current year.

Hedge Funds Weigh In On Monarch Casino & Resort

Large investors have recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new stake in shares of Monarch Casino & Resort in the 4th quarter valued at about $53,000. KBC Group NV lifted its holdings in Monarch Casino & Resort by 67.8% in the fourth quarter. KBC Group NV now owns 980 shares of the company’s stock valued at $77,000 after acquiring an additional 396 shares during the period. Independence Bank of Kentucky acquired a new stake in shares of Monarch Casino & Resort during the 4th quarter valued at approximately $93,000. Nisa Investment Advisors LLC boosted its position in Monarch Casino & Resort by 30.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,693 shares of the company’s stock worth $134,000 after purchasing an additional 400 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Monarch Casino & Resort during the 4th quarter valued at about $169,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

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.