Monarch Casino & Resort (NASDAQ:MCRI) Shares Gap Down to $69.57

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) shares gapped down before the market opened on Thursday . The stock had previously closed at $69.57, but opened at $67.33. Monarch Casino & Resort shares last traded at $65.33, with a volume of 17,183 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MCRI. Macquarie raised their price target on shares of Monarch Casino & Resort from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Truist Financial raised their target price on shares of Monarch Casino & Resort from $72.00 to $74.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $70.00 target price on shares of Monarch Casino & Resort in a research note on Friday, January 5th.

Monarch Casino & Resort Stock Down 6.2 %

The firm has a fifty day simple moving average of $70.83 and a 200-day simple moving average of $67.04. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 15.49 and a beta of 1.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.55 and a current ratio of 0.61.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its earnings results on Wednesday, February 14th. The company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). Monarch Casino & Resort had a return on equity of 17.41% and a net margin of 16.44%. The firm had revenue of $128.19 million for the quarter, compared to analyst estimates of $119.33 million. As a group, sell-side analysts expect that Monarch Casino & Resort, Inc. will post 4.55 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Diversified Trust Co acquired a new position in Monarch Casino & Resort in the first quarter valued at about $203,000. Annex Advisory Services LLC raised its stake in Monarch Casino & Resort by 9.2% in the first quarter. Annex Advisory Services LLC now owns 14,078 shares of the company’s stock valued at $1,056,000 after purchasing an additional 1,189 shares in the last quarter. Vanguard Group Inc. raised its stake in Monarch Casino & Resort by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 1,059,127 shares of the company’s stock valued at $73,239,000 after purchasing an additional 33,849 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Monarch Casino & Resort in the fourth quarter valued at about $236,000. Finally, Barclays PLC raised its stake in Monarch Casino & Resort by 83.0% in the fourth quarter. Barclays PLC now owns 31,650 shares of the company’s stock valued at $2,189,000 after purchasing an additional 14,355 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

About Monarch Casino & Resort

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.