BidaskClub Lowers Monarch Casino & Resort (NASDAQ:MCRI) to Buy

Monarch Casino & Resort (NASDAQ:MCRI) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, December 27th.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. ValuEngine cut shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Union Gaming Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Finally, UBS Group upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Monarch Casino & Resort presently has a consensus rating of “Buy” and a consensus target price of $53.25.

Monarch Casino & Resort (NASDAQ:MCRI) traded up $0.94 during trading hours on Wednesday, hitting $45.33. 24,040 shares of the stock were exchanged, compared to its average volume of 68,380. The company has a market cap of $798.47, a P/E ratio of 29.82 and a beta of 1.11. Monarch Casino & Resort has a one year low of $23.10 and a one year high of $47.92. The company has a quick ratio of 1.08, a current ratio of 1.17 and a debt-to-equity ratio of 0.10.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Tuesday, October 24th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $63.03 million during the quarter, compared to the consensus estimate of $60.05 million. Monarch Casino & Resort had a net margin of 11.99% and a return on equity of 11.25%. equities research analysts predict that Monarch Casino & Resort will post 1.51 earnings per share for the current fiscal year.

In other Monarch Casino & Resort news, major shareholder Ben Farahi sold 35,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $42.99, for a total value of $1,504,650.00. Following the completion of the sale, the insider now owns 1,125,772 shares in the company, valued at approximately $48,396,938.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Bob Farahi sold 2,020 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $45.53, for a total transaction of $91,970.60. Following the completion of the sale, the president now owns 472,405 shares of the company’s stock, valued at approximately $21,508,599.65. The disclosure for this sale can be found here. Insiders have sold a total of 138,476 shares of company stock valued at $6,259,906 in the last quarter. 27.56% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Texas Permanent School Fund increased its position in Monarch Casino & Resort by 1.1% in the 2nd quarter. Texas Permanent School Fund now owns 8,052 shares of the company’s stock valued at $244,000 after acquiring an additional 84 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Monarch Casino & Resort by 2.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,754 shares of the company’s stock worth $295,000 after buying an additional 224 shares during the period. Nationwide Fund Advisors grew its position in shares of Monarch Casino & Resort by 6.6% during the 2nd quarter. Nationwide Fund Advisors now owns 7,156 shares of the company’s stock worth $216,000 after buying an additional 446 shares during the period. Zacks Investment Management grew its position in shares of Monarch Casino & Resort by 1.9% during the 2nd quarter. Zacks Investment Management now owns 76,027 shares of the company’s stock worth $2,300,000 after buying an additional 1,381 shares during the period. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of Monarch Casino & Resort by 29.7% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,730 shares of the company’s stock worth $266,000 after buying an additional 1,540 shares during the period. Hedge funds and other institutional investors own 58.29% 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.

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