Monarch Casino & Resort (NASDAQ: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 published on Tuesday, BidAskClub reports.

Several other brokerages also recently weighed in on MCRI. ValuEngine raised Monarch Casino & Resort from a hold rating to a buy rating in a research report on Monday, July 29th. Zacks Investment Research raised Monarch Casino & Resort from a sell rating to a hold rating in a research report on Thursday, July 25th.

Shares of MCRI opened at $44.64 on Tuesday. The business’s 50-day moving average is $44.85 and its two-hundred day moving average is $44.15. The company has a market capitalization of $823.64 million, a P/E ratio of 24.39, a P/E/G ratio of 1.87 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.58 and a current ratio of 0.64. Monarch Casino & Resort has a fifty-two week low of $34.45 and a fifty-two week high of $48.71.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The company had revenue of $62.76 million for the quarter, compared to the consensus estimate of $61.20 million. Monarch Casino & Resort had a return on equity of 11.24% and a net margin of 14.01%. Analysts forecast that Monarch Casino & Resort will post 1.95 EPS for the current year.

In other news, President Bob Farahi sold 24,340 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $45.08, for a total transaction of $1,097,247.20. Following the sale, the president now directly owns 380,066 shares in the company, valued at approximately $17,133,375.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.64% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Janus Henderson Group PLC grew its position in shares of Monarch Casino & Resort by 8.6% during the 2nd quarter. Janus Henderson Group PLC now owns 452,611 shares of the company’s stock valued at $19,345,000 after acquiring an additional 35,700 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Monarch Casino & Resort by 1,013.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,361 shares of the company’s stock valued at $104,000 after acquiring an additional 2,149 shares during the period. Texas Permanent School Fund grew its position in shares of Monarch Casino & Resort by 3.9% during the 1st quarter. Texas Permanent School Fund now owns 8,030 shares of the company’s stock valued at $353,000 after acquiring an additional 302 shares during the period. Brasada Capital Management LP grew its position in shares of Monarch Casino & Resort by 12.3% during the 2nd quarter. Brasada Capital Management LP now owns 123,638 shares of the company’s stock valued at $5,404,000 after acquiring an additional 13,557 shares during the period. Finally, Park West Asset Management LLC grew its position in shares of Monarch Casino & Resort by 1.2% during the 2nd quarter. Park West Asset Management LLC now owns 1,497,531 shares of the company’s stock valued at $64,004,000 after acquiring an additional 17,193 shares during the period. Hedge funds and other institutional investors own 60.35% 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 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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