BidaskClub upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a sell rating to a hold rating in a report issued on Tuesday morning, BidAskClub reports.

Several other equities research analysts have also recently weighed in on MCRI. Zacks Investment Research upgraded shares of Monarch Casino & Resort from a sell rating to a hold rating in a research report on Thursday, July 25th. ValuEngine upgraded shares of Monarch Casino & Resort from a hold rating to a buy rating in a research report on Monday, July 29th.

Shares of NASDAQ MCRI opened at $43.83 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.58 and a current ratio of 0.64. Monarch Casino & Resort has a 52-week low of $34.45 and a 52-week high of $48.71. The firm has a 50 day moving average price of $44.77 and a two-hundred day moving average price of $44.15. The stock has a market cap of $806.50 million, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.04. Monarch Casino & Resort had a net margin of 14.01% and a return on equity of 11.24%. The firm had revenue of $62.76 million during the quarter, compared to analysts’ expectations of $61.20 million. Analysts predict that Monarch Casino & Resort will post 1.95 earnings per share for the current fiscal year.

In other news, President Bob Farahi sold 24,340 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.08, for a total transaction of $1,097,247.20. Following the completion of the sale, the president now directly owns 380,066 shares in the company, valued at $17,133,375.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 26.64% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MCRI. Aperio Group LLC acquired a new stake in shares of Monarch Casino & Resort during the second quarter worth $59,000. Bank of Montreal Can increased its position in shares of Monarch Casino & Resort by 22.7% during the first quarter. Bank of Montreal Can now owns 1,447 shares of the company’s stock worth $63,000 after buying an additional 268 shares during the period. KBC Group NV bought a new position in Monarch Casino & Resort during the second quarter worth $65,000. Royal Bank of Canada boosted its stake in Monarch Casino & Resort by 61.3% during the second quarter. Royal Bank of Canada now owns 1,634 shares of the company’s stock worth $69,000 after acquiring an additional 621 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Monarch Casino & Resort by 1,013.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,361 shares of the company’s stock worth $104,000 after acquiring an additional 2,149 shares in the last quarter. Institutional investors own 60.35% of the company’s stock.

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 February 20, 2019, 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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