Monarch Casino & Resort (MCRI) Downgraded to “Sell” at BidaskClub

BidaskClub cut shares of Monarch Casino & Resort (NASDAQ:MCRI) from a hold rating to a sell rating in a research report released on Wednesday morning.

A number of other equities research analysts also recently commented on the stock. ValuEngine downgraded shares of Monarch Casino & Resort from a buy rating to a hold rating in a research report on Saturday, October 27th. Zacks Investment Research cut shares of Monarch Casino & Resort from a buy rating to a hold rating in a report on Saturday, July 28th. Stifel Nicolaus upped their target price on shares of Monarch Casino & Resort from $45.00 to $49.00 and gave the company a hold rating in a report on Wednesday, July 25th. Finally, Jefferies Financial Group upgraded shares of Monarch Casino & Resort from an underperform rating to a hold rating and set a $48.00 target price for the company in a report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of Hold and an average price target of $50.00.

Shares of NASDAQ:MCRI traded up $0.64 during trading hours on Wednesday, reaching $40.46. The stock had a trading volume of 33,792 shares, compared to its average volume of 60,644. Monarch Casino & Resort has a 1 year low of $37.33 and a 1 year high of $49.63. The company has a current ratio of 0.92, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The company has a market cap of $723.63 million, a PE ratio of 23.12, a P/E/G ratio of 1.74 and a beta of 1.29.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Wednesday, October 24th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Monarch Casino & Resort had a net margin of 13.20% and a return on equity of 11.79%. The company had revenue of $64.36 million for the quarter, compared to the consensus estimate of $65.15 million. As a group, equities research analysts expect that Monarch Casino & Resort will post 1.86 EPS for the current year.

In related news, President Bob Farahi bought 8,000 shares of the stock in a transaction dated Friday, September 7th. The stock was acquired at an average price of $44.84 per share, for a total transaction of $358,720.00. Following the acquisition, the president now owns 419,408 shares in the company, valued at approximately $18,806,254.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 26.24% of the company’s stock.

Several institutional investors have recently modified their holdings of MCRI. Cutler Group LP boosted its holdings in shares of Monarch Casino & Resort by 609.8% in the 2nd quarter. Cutler Group LP now owns 2,549 shares of the company’s stock valued at $112,000 after buying an additional 3,049 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth $117,000. SG Americas Securities LLC acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth $182,000. TD Asset Management Inc. acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth $203,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth $206,000. Institutional investors and hedge funds own 58.35% of the company’s stock.

Monarch Casino & Resort Company Profile

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 March 5, 2018, 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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