Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been given a consensus rating of “Buy” by the eight analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $53.25.

A number of brokerages have recently commented on MCRI. Union Gaming Research raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. UBS AG raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Wednesday, October 11th. ValuEngine cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, BidaskClub raised shares of Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research note on Friday, August 11th.

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In other news, major shareholder Ben Farahi sold 18,600 shares of Monarch Casino & Resort stock in a transaction on Monday, October 30th. The stock was sold at an average price of $43.76, for a total transaction of $813,936.00. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. 27.56% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its position in shares of Monarch Casino & Resort by 90.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 49,147 shares of the company’s stock worth $1,943,000 after purchasing an additional 23,347 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Monarch Casino & Resort by 9.7% during the 3rd quarter. Wells Fargo & Company MN now owns 49,754 shares of the company’s stock worth $1,967,000 after purchasing an additional 4,390 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Monarch Casino & Resort by 0.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,066,464 shares of the company’s stock worth $41,454,000 after purchasing an additional 3,567 shares during the last quarter. EAM Investors LLC acquired a new position in Monarch Casino & Resort in the 3rd quarter valued at about $2,200,000. Finally, Macquarie Group Ltd. acquired a new position in Monarch Casino & Resort in the 3rd quarter valued at about $171,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Shares of Monarch Casino & Resort (MCRI) traded down $0.51 during trading hours on Monday, reaching $44.95. 28,100 shares of the company traded hands, compared to its average volume of 44,667. Monarch Casino & Resort has a one year low of $22.99 and a one year high of $46.51. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.10. The firm has a market cap of $795.64, a P/E ratio of 29.57 and a beta of 1.09.

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

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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