Jefferies Financial Group Boosts Monarch Casino & Resort (NASDAQ:MCRI) Price Target to $88.00

Monarch Casino & Resort (NASDAQ:MCRI) had its price objective increased by equities researchers at Jefferies Financial Group from $73.00 to $88.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 12.47% from the company’s previous close.

MCRI has been the topic of a number of other reports. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Stifel Nicolaus boosted their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Wells Fargo & Company started coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They set an “underweight” rating and a $79.00 price objective for the company. Finally, Truist Financial lifted their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Monarch Casino & Resort presently has an average rating of “Hold” and a consensus target price of $80.40.

Monarch Casino & Resort Trading Up 0.6 %

MCRI stock opened at $78.24 on Friday. The stock has a 50-day moving average price of $82.13 and a two-hundred day moving average price of $76.55. Monarch Casino & Resort has a 1 year low of $64.50 and a 1 year high of $89.06. The stock has a market cap of $1.44 billion, a PE ratio of 17.31 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The business had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. During the same period last year, the company earned $1.38 earnings per share. On average, analysts forecast that Monarch Casino & Resort will post 4.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monarch Casino & Resort

A number of institutional investors and hedge funds have recently modified their holdings of MCRI. Jane Street Group LLC increased its position in Monarch Casino & Resort by 518.8% during the third quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock worth $9,280,000 after buying an additional 98,153 shares during the last quarter. Weiss Asset Management LP boosted its stake in shares of Monarch Casino & Resort by 1,289.7% during the 3rd quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock worth $6,279,000 after acquiring an additional 73,512 shares during the period. Millennium Management LLC increased its holdings in shares of Monarch Casino & Resort by 376.1% during the 2nd quarter. Millennium Management LLC now owns 85,869 shares of the company’s stock worth $5,850,000 after acquiring an additional 67,833 shares during the last quarter. American Century Companies Inc. raised its stake in Monarch Casino & Resort by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after acquiring an additional 46,323 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Monarch Casino & Resort during the 3rd quarter valued at $2,349,000. 62.37% of the stock is owned by institutional investors.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.