Zacks Investment Research lowered shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) from a buy rating to a hold rating in a research note released on Saturday morning.

According to Zacks, “Monarch Casino & Resort, Inc., through its wholly-owned subsidiary Golden Road Motor Inn, Inc., owns and operates the tropically-themed Atlantis Casino Resort in Reno, Nevada. “

A number of other brokerages have also weighed in on MCRI. Imperial Capital raised their target price on Monarch Casino & Resort from $35.00 to $38.00 and gave the company an outperform rating in a research note on Thursday, July 27th. Stifel Nicolaus raised their target price on Monarch Casino & Resort from $27.00 to $29.00 and gave the company a hold rating in a research note on Friday, April 28th. Finally, Deutsche Bank AG raised their target price on Monarch Casino & Resort from $95.00 to $97.00 and gave the company a buy rating in a research note on Monday, May 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $46.60.

Shares of Monarch Casino & Resort (MCRI) opened at 33.34 on Friday. The firm has a market cap of $585.28 million, a P/E ratio of 22.53 and a beta of 1.04. The company has a 50-day moving average of $30.82 and a 200 day moving average of $28.64. Monarch Casino & Resort has a 12-month low of $21.13 and a 12-month high of $34.59.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Tuesday, July 25th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. Monarch Casino & Resort had a return on equity of 11.16% and a net margin of 11.77%. The firm had revenue of $58.23 million during the quarter, compared to analyst estimates of $58 million. Equities analysts predict that Monarch Casino & Resort will post $1.50 EPS for the current year.

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Several hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. raised its stake in shares of Monarch Casino & Resort by 2.6% in the first quarter. Prudential Financial Inc. now owns 33,152 shares of the company’s stock worth $980,000 after buying an additional 830 shares during the period. Hancock Holding Co. acquired a new stake in shares of Monarch Casino & Resort during the first quarter worth $209,000. Friedberg Investment Management raised its stake in shares of Monarch Casino & Resort by 4.1% in the first quarter. Friedberg Investment Management now owns 90,420 shares of the company’s stock worth $2,671,000 after buying an additional 3,600 shares during the period. Alambic Investment Management L.P. raised its stake in shares of Monarch Casino & Resort by 12.5% in the first quarter. Alambic Investment Management L.P. now owns 52,380 shares of the company’s stock worth $1,547,000 after buying an additional 5,800 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Monarch Casino & Resort during the first quarter worth $252,000. Institutional investors own 57.08% of the company’s stock.

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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