Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Receives $99.40 Average Target Price from Analysts

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been given a consensus rating of “Hold” by the seven analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $99.40.

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Wall Street Zen cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $112.00 price target on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Wells Fargo & Company upped their price objective on Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. Finally, Stifel Nicolaus raised their target price on Monarch Casino & Resort from $92.00 to $97.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd.

Monarch Casino & Resort Trading Down 2.0%

MCRI opened at $90.33 on Tuesday. Monarch Casino & Resort has a twelve month low of $69.99 and a twelve month high of $113.88. The firm has a market capitalization of $1.65 billion, a PE ratio of 16.31 and a beta of 1.36. The firm’s 50-day moving average price is $96.11 and its 200 day moving average price is $97.87.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Tuesday, October 21st. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.06. Monarch Casino & Resort had a net margin of 19.26% and a return on equity of 19.33%. The business had revenue of $142.81 million for the quarter, compared to analyst estimates of $145.54 million. As a group, analysts predict that Monarch Casino & Resort will post 5.13 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, December 1st. Monarch Casino & Resort’s dividend payout ratio (DPR) is presently 21.66%.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $100.63, for a total value of $100,630.00. Following the transaction, the chief executive officer owned 553,110 shares of the company’s stock, valued at $55,659,459.30. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 25.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Monarch Casino & Resort

Several large investors have recently made changes to their positions in MCRI. SG Americas Securities LLC increased its holdings in Monarch Casino & Resort by 35.1% in the 4th quarter. SG Americas Securities LLC now owns 17,651 shares of the company’s stock valued at $1,689,000 after purchasing an additional 4,582 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Monarch Casino & Resort by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock worth $94,000 after buying an additional 106 shares during the period. Caxton Associates LLP acquired a new stake in shares of Monarch Casino & Resort in the third quarter valued at $645,000. Dark Forest Capital Management LP raised its holdings in shares of Monarch Casino & Resort by 11.8% in the 3rd quarter. Dark Forest Capital Management LP now owns 25,088 shares of the company’s stock valued at $2,655,000 after buying an additional 2,655 shares during the period. Finally, Verition Fund Management LLC lifted its stake in Monarch Casino & Resort by 75.3% during the 3rd quarter. Verition Fund Management LLC now owns 11,721 shares of the company’s stock worth $1,241,000 after acquiring an additional 5,034 shares in the last quarter. 62.37% of the stock is currently owned by institutional investors and hedge funds.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.