Monarch Casino & Resort (NASDAQ:MCRI) Lifted to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Monarch Casino & Resort (NASDAQ:MCRI) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Monarch Casino & Resort, Inc. is dedicated to deliver the ultimate guest experience by providing exceptional services as well as the latest gaming, dining and hospitality amenities. With a main focus on their guests’ superior expectations, they continue to aggressively reinvest in our properties. As a market leader, they invite them to become more familiar with their company, their operations and their management team. Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado, approximately 40 miles west of Denver. “

Separately, BidaskClub raised shares of Zebra Technologies from a hold rating to a buy rating in a report on Saturday, July 6th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $50.00.

MCRI stock traded down $0.85 during mid-day trading on Tuesday, hitting $43.67. The stock had a trading volume of 29,906 shares, compared to its average volume of 49,117. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.62 and a quick ratio of 0.56. Monarch Casino & Resort has a 52 week low of $34.45 and a 52 week high of $49.63. The stock has a market capitalization of $800.72 million, a price-to-earnings ratio of 23.86, a P/E/G ratio of 1.88 and a beta of 1.03. The stock’s fifty day moving average is $43.07.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, April 24th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. Monarch Casino & Resort had a net margin of 14.16% and a return on equity of 11.61%. The firm had revenue of $58.74 million for the quarter, compared to analyst estimates of $56.40 million. As a group, analysts anticipate that Monarch Casino & Resort will post 1.89 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP grew its holdings in shares of Monarch Casino & Resort by 18.7% during the 4th quarter. First Trust Advisors LP now owns 21,290 shares of the company’s stock valued at $812,000 after purchasing an additional 3,361 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Monarch Casino & Resort by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 137,016 shares of the company’s stock valued at $5,225,000 after purchasing an additional 11,443 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Monarch Casino & Resort by 87.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 24,917 shares of the company’s stock valued at $1,094,000 after purchasing an additional 11,600 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Monarch Casino & Resort during the 4th quarter valued at approximately $171,000. Finally, Rhumbline Advisers grew its holdings in shares of Monarch Casino & Resort by 21.8% during the 4th quarter. Rhumbline Advisers now owns 33,350 shares of the company’s stock valued at $1,272,000 after purchasing an additional 5,966 shares during the last quarter. 60.96% of the stock is currently owned by institutional investors.

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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