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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 196,400 shares, a growth of 25.1% from the October 31st total of 157,000 shares. Based on an average trading volume of 113,700 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.6% of the company’s shares are sold short.

Wall Street Analyst Weigh In

MCRI has been the topic of several research reports. Truist Financial upped their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of Monarch Casino & Resort from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Stifel Nicolaus increased their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th.

Institutional Investors Weigh In On Monarch Casino & Resort

Hedge funds have recently made changes to their positions in the company. Trust Point Inc. grew its position in shares of Monarch Casino & Resort by 1.5% during the 3rd quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock worth $873,000 after buying an additional 162 shares during the period. GAMMA Investing LLC grew its position in shares of Monarch Casino & Resort by 61.0% during the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after buying an additional 178 shares during the period. Sei Investments Co. grew its position in shares of Monarch Casino & Resort by 1.4% during the 2nd quarter. Sei Investments Co. now owns 19,697 shares of the company’s stock worth $1,342,000 after buying an additional 271 shares during the period. Financial Management Professionals Inc. bought a new position in Monarch Casino & Resort during the 3rd quarter worth approximately $30,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Monarch Casino & Resort by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,851 shares of the company’s stock worth $289,000 after acquiring an additional 443 shares during the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Up 0.8 %

Monarch Casino & Resort stock traded up $0.69 during mid-day trading on Monday, reaching $84.70. The company had a trading volume of 24,334 shares, compared to its average volume of 119,359. Monarch Casino & Resort has a 52 week low of $62.93 and a 52 week high of $86.68. The company has a 50 day moving average of $79.58 and a 200-day moving average of $73.95. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 18.65 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. The firm had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. During the same period in the prior year, the firm earned $1.38 EPS. On average, analysts predict that Monarch Casino & Resort will post 4.72 earnings per share for the current fiscal year.

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.