Monarch Casino & Resort (MCRI) Raised to Hold at BidaskClub

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

A number of other research firms have also recently commented on MCRI. Citigroup cut Monarch Casino & Resort from a buy rating to a hold rating in a report on Wednesday, March 6th. They noted that the move was a valuation call. ValuEngine cut Monarch Casino & Resort from a buy rating to a hold rating in a report on Saturday, February 2nd. Six research analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and a consensus target price of $50.00.

NASDAQ:MCRI traded down $0.37 on Friday, reaching $45.03. 62,732 shares of the company’s stock traded hands, compared to its average volume of 56,798. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 0.36. The stock has a market cap of $816.55 million, a PE ratio of 24.61, a P/E/G ratio of 1.90 and a beta of 1.17. Monarch Casino & Resort has a 12 month low of $34.45 and a 12 month high of $49.63.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. The business had revenue of $58.74 million for the quarter, compared to analysts’ expectations of $56.40 million. Monarch Casino & Resort had a return on equity of 11.61% and a net margin of 14.16%. Sell-side analysts anticipate that Monarch Casino & Resort will post 1.91 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of MCRI. Bank of New York Mellon Corp increased its holdings in shares of Monarch Casino & Resort by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 192,894 shares of the company’s stock worth $8,767,000 after purchasing an additional 5,276 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of Monarch Casino & Resort by 59.9% in the third quarter. MetLife Investment Advisors LLC now owns 8,417 shares of the company’s stock worth $383,000 after purchasing an additional 3,152 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Monarch Casino & Resort by 7.2% in the third quarter. Teachers Advisors LLC now owns 24,880 shares of the company’s stock worth $1,131,000 after purchasing an additional 1,672 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Monarch Casino & Resort by 11.3% in the third quarter. Legal & General Group Plc now owns 25,135 shares of the company’s stock worth $1,143,000 after purchasing an additional 2,552 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Monarch Casino & Resort by 5.3% in the third quarter. Vanguard Group Inc. now owns 697,819 shares of the company’s stock worth $31,716,000 after purchasing an additional 35,341 shares during the last quarter. 59.43% of the stock is currently owned by hedge funds and other institutional investors.

About Monarch Casino & Resort

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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