Monarch Casino & Resort Inc. (NASDAQ:MCRI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.

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. “

Monarch Casino & Resort (NASDAQ:MCRI) opened at 23.27 on Wednesday. Monarch Casino & Resort has a 52 week low of $16.72 and a 52 week high of $24.50. The firm has a market cap of $402.94 million, a P/E ratio of 18.78 and a beta of 0.85. The company has a 50-day moving average of $23.62 and a 200 day moving average of $21.56.

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Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, July 20th. The company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by $0.02. Monarch Casino & Resort had a return on equity of 10.57% and a net margin of 10.40%. On average, equities analysts predict that Monarch Casino & Resort will post $1.29 earnings per share for the current year.

In other news, President Bob Farahi sold 10,000 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $24.24, for a total value of $242,400.00. Following the completion of the transaction, the president now owns 516,614 shares of the company’s stock, valued at $12,522,723.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 27.91% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new position in Monarch Casino & Resort during the second quarter valued at about $393,000. DUPONT CAPITAL MANAGEMENT Corp boosted its position in Monarch Casino & Resort by 76.6% in the second quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 44,291 shares of the company’s stock valued at $973,000 after buying an additional 19,207 shares during the last quarter. California State Teachers Retirement System boosted its position in Monarch Casino & Resort by 3.5% in the second quarter. California State Teachers Retirement System now owns 22,266 shares of the company’s stock valued at $489,000 after buying an additional 757 shares during the last quarter. Lafitte Capital Management LP boosted its position in Monarch Casino & Resort by 3.3% in the first quarter. Lafitte Capital Management LP now owns 631,353 shares of the company’s stock valued at $12,286,000 after buying an additional 20,000 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Monarch Casino & Resort by 198.7% in the first quarter. Panagora Asset Management Inc. now owns 26,501 shares of the company’s stock valued at $516,000 after buying an additional 17,630 shares during the last quarter. 55.96% of the stock is owned by institutional investors.

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 operating segments include Atlantis and Monarch Casino Black Hawk.

5 Day Chart for NASDAQ:MCRI

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