Monarch Casino & Resort Inc. Reaches New 12-Month High at $21.00 (MCRI)
Monarch Casino & Resort (NASDAQ:MCRI)’s share price reached a new 52-week high during mid-day trading on Wednesday, Analyst Ratings News reports. The stock traded as high as $21.00 and last traded at $20.92, with a volume of 51,340 shares traded. The stock had previously closed at $20.25.
A number of analysts have recently weighed in on MCRI shares. Analysts at Zacks downgraded shares of Monarch Casino & Resort from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, September 26th. They now have a $22.80 price target on the stock. Finally, analysts at Brean Capital raised their price target on shares of Monarch Casino & Resort from $17.00 to $20.00 in a research note to investors on Thursday, July 25th. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Monarch Casino & Resort currently has an average rating of “Buy” and an average target price of $19.52.
In other Monarch Casino & Resort news, major shareholder Ben Farahi unloaded 5,000 shares of the stock on the open market in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the transaction, the insider now directly owns 1,254,064 shares of the company’s stock, valued at approximately $25,081,280. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Monarch Casino & Resort has a one year low of $8.31 and a one year high of $21.00. The stock has a 50-day moving average of $19.33 and a 200-day moving average of $16.59. The company has a market cap of $338.2 million and a price-to-earnings ratio of 20.81.
Monarch Casino & Resort, Inc (NASDAQ:MCRI), through its wholly owned subsidiary, Golden Road Motor Inn, Inc (Golden Road), owns and operates the Atlantis Casino Resort Spa(the Atlantis), a hotel/casino facility in Reno, Nevada.
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