Monarch Casino & Resort (MCRI) Downgraded by ValuEngine to Hold

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

A number of other analysts have also commented on the company. BidaskClub raised Monarch Casino & Resort from a sell rating to a hold rating in a research note on Thursday, October 11th. Zacks Investment Research lowered Monarch Casino & Resort from a buy rating to a hold rating in a research note on Saturday, July 28th. Stifel Nicolaus lifted their price target on Monarch Casino & Resort from $45.00 to $49.00 and gave the company a hold rating in a research note on Wednesday, July 25th. Finally, Jefferies Financial Group raised Monarch Casino & Resort from an underperform rating to a hold rating and set a $48.00 price target on the stock in a research note on Wednesday, July 25th. Five investment analysts have rated the stock with a hold rating, The stock currently has an average rating of Hold and a consensus target price of $50.00.

NASDAQ:MCRI opened at $38.61 on Friday. The stock has a market capitalization of $723.79 million, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 1.74 and a beta of 1.04. The company has a current ratio of 0.92, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. Monarch Casino & Resort has a twelve month low of $37.33 and a twelve month high of $49.63.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Monarch Casino & Resort had a return on equity of 11.79% and a net margin of 13.20%. The firm had revenue of $64.36 million for the quarter, compared to analyst estimates of $65.15 million. Equities analysts predict that Monarch Casino & Resort will post 1.86 EPS for the current fiscal year.

In other news, President Bob Farahi purchased 8,000 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were purchased at an average cost of $44.84 per share, with a total value of $358,720.00. Following the completion of the purchase, the president now owns 419,408 shares of the company’s stock, valued at approximately $18,806,254.72. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 26.24% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of Monarch Casino & Resort by 15.9% during the second quarter. Victory Capital Management Inc. now owns 8,029 shares of the company’s stock valued at $354,000 after purchasing an additional 1,099 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Monarch Casino & Resort by 6.0% in the second quarter. Legal & General Group Plc now owns 22,583 shares of the company’s stock worth $993,000 after acquiring an additional 1,281 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Monarch Casino & Resort by 39.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,917 shares of the company’s stock worth $217,000 after acquiring an additional 1,389 shares during the period. First Trust Advisors LP lifted its stake in shares of Monarch Casino & Resort by 17.0% in the second quarter. First Trust Advisors LP now owns 12,948 shares of the company’s stock worth $570,000 after acquiring an additional 1,884 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Monarch Casino & Resort by 2.6% in the first quarter. Principal Financial Group Inc. now owns 88,992 shares of the company’s stock worth $3,763,000 after acquiring an additional 2,237 shares during the period. 58.35% of the stock is currently owned by hedge funds and other institutional investors.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of March 5, 2018, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.

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