Monarch Casino & Resort (MCRI) Lifted to “Buy” at BidaskClub

Monarch Casino & Resort (NASDAQ:MCRI) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.

MCRI has been the subject of several other research reports. Union Gaming Research raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Jefferies Group assumed coverage on shares of Monarch Casino & Resort in a research report on Thursday, January 18th. They issued an “underperform” rating and a $39.00 price objective for the company. Zacks Investment Research raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Wednesday, October 11th. ValuEngine lowered shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, UBS Group raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $50.40.

Monarch Casino & Resort (NASDAQ MCRI) traded down $0.15 during trading on Thursday, hitting $43.14. 75,630 shares of the stock traded hands, compared to its average volume of 60,602. Monarch Casino & Resort has a 52 week low of $23.32 and a 52 week high of $47.92. The firm has a market capitalization of $763.62, a price-to-earnings ratio of 28.38 and a beta of 1.15. The company has a quick ratio of 1.08, a current ratio of 1.17 and a debt-to-equity ratio of 0.10.

In other Monarch Casino & Resort news, President Bob Farahi sold 4,101 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $45.51, for a total transaction of $186,636.51. Following the transaction, the president now directly owns 450,070 shares in the company, valued at approximately $20,482,685.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 82,765 shares of company stock worth $3,845,145 over the last quarter. 27.56% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of MCRI. Arrowstreet Capital Limited Partnership lifted its position in shares of Monarch Casino & Resort by 68.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 168,262 shares of the company’s stock worth $7,542,000 after buying an additional 68,189 shares during the last quarter. EAM Investors LLC bought a new position in shares of Monarch Casino & Resort in the 3rd quarter worth about $2,200,000. Acadian Asset Management LLC lifted its position in shares of Monarch Casino & Resort by 373.2% in the 4th quarter. Acadian Asset Management LLC now owns 51,402 shares of the company’s stock worth $2,303,000 after buying an additional 40,540 shares during the last quarter. Whittier Trust Co. bought a new position in shares of Monarch Casino & Resort in the 4th quarter worth about $1,731,000. Finally, Northern Trust Corp lifted its position in shares of Monarch Casino & Resort by 22.5% in the 2nd quarter. Northern Trust Corp now owns 186,787 shares of the company’s stock worth $5,650,000 after buying an additional 34,321 shares during the last quarter. Institutional investors own 58.40% 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.

Analyst Recommendations for Monarch Casino & Resort (NASDAQ:MCRI)

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