Monarch Casino & Resort (NASDAQ:MCRI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

MCRI has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. ValuEngine downgraded shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. UBS Group upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Finally, Union Gaming Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Monarch Casino & Resort currently has an average rating of “Buy” and a consensus price target of $53.25.

Monarch Casino & Resort (NASDAQ:MCRI) opened at $44.61 on Wednesday. The firm has a market cap of $798.47, a PE ratio of 29.35 and a beta of 1.11. Monarch Casino & Resort has a 1 year low of $23.10 and a 1 year high of $47.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.17 and a quick ratio of 1.08.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $63.03 million during 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%. sell-side analysts expect that Monarch Casino & Resort will post 1.51 EPS for the current year.

In related news, major shareholder Ben Farahi sold 18,600 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $43.76, for a total transaction of $813,936.00. Following the completion of 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 the SEC website. Also, President Bob Farahi sold 12,242 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $46.13, for a total transaction of $564,723.46. Following the completion of the sale, the president now owns 378,074 shares of the company’s stock, valued at approximately $17,440,553.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,476 shares of company stock valued at $6,259,906. Insiders own 27.56% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. AMP Capital Investors Ltd acquired a new stake in Monarch Casino & Resort in the 3rd quarter valued at about $241,000. Schwab Charles Investment Management Inc. raised its holdings in Monarch Casino & Resort by 90.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 49,147 shares of the company’s stock valued at $1,943,000 after acquiring an additional 23,347 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Monarch Casino & Resort by 9.7% in the 3rd quarter. Wells Fargo & Company MN now owns 49,754 shares of the company’s stock valued at $1,967,000 after acquiring an additional 4,390 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Monarch Casino & Resort by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,066,464 shares of the company’s stock valued at $41,454,000 after acquiring an additional 3,567 shares during the last quarter. Finally, EAM Investors LLC acquired a new stake in Monarch Casino & Resort in the 3rd quarter valued at about $2,200,000. Institutional investors own 58.29% of the company’s stock.

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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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