ValuEngine cut shares of Monarch Casino & Resort (NASDAQ:MCRI) from a buy rating to a hold rating in a report released on Friday morning.

A number of other equities research analysts have also weighed in on the company. Union Gaming Research upgraded Monarch Casino & Resort from a hold rating to a buy rating in a research report on Wednesday, October 25th. UBS upgraded Monarch Casino & Resort from a hold rating to a buy rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded Monarch Casino & Resort from a hold rating to a buy rating and set a $45.00 price objective on the stock in a research report on Wednesday, October 11th. Finally, BidaskClub lowered Monarch Casino & Resort from a hold rating to a sell rating in a research report on Saturday, August 5th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Monarch Casino & Resort currently has a consensus rating of Buy and a consensus price target of $53.25.

Shares of Monarch Casino & Resort (MCRI) traded down $0.70 during mid-day trading on Friday, hitting $46.23. The stock had a trading volume of 72,611 shares, compared to its average volume of 84,789. The company has a market cap of $816.92, a price-to-earnings ratio of 30.88 and a beta of 1.09. Monarch Casino & Resort has a 12-month low of $23.10 and a 12-month high of $47.92. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.10.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The firm had revenue of $63.03 million for the quarter, compared to analyst estimates of $60.05 million. Monarch Casino & Resort had a return on equity of 11.25% and a net margin of 11.99%. research analysts forecast that Monarch Casino & Resort will post 1.51 EPS for the current fiscal year.

In other news, major shareholder Ben Farahi sold 18,600 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $43.76, for a total value of $813,936.00. Following the completion of the transaction, the insider now owns 1,107,172 shares in the company, valued at approximately $48,449,846.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Bob Farahi sold 26,200 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $47.21, for a total value of $1,236,902.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,234 shares of company stock valued at $4,949,262. 27.56% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new position in shares of Monarch Casino & Resort in the 3rd quarter valued at approximately $171,000. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Monarch Casino & Resort in the 2nd quarter valued at approximately $156,000. BNP Paribas Arbitrage SA lifted its stake in shares of Monarch Casino & Resort by 74.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,662 shares of the company’s stock valued at $224,000 after purchasing an additional 2,409 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Monarch Casino & Resort in the 2nd quarter valued at approximately $173,000. Finally, AMP Capital Investors Ltd purchased a new position in Monarch Casino & Resort during the third quarter valued at $241,000. Institutional investors own 58.33% of the company’s stock.

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Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

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