Short Interest in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Drops By 33.0%

by · The Cerbat Gem

Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Get Free Report) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 198,400 shares, a decrease of 33.0% from the September 15th total of 296,200 shares. Based on an average daily volume of 123,900 shares, the days-to-cover ratio is currently 1.6 days. Approximately 1.6% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MCRI shares. Truist Financial lifted their price objective on shares of Monarch Casino & Resort from $74.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Macquarie restated a “neutral” rating and issued a $76.00 price target on shares of Monarch Casino & Resort in a report on Thursday, July 25th.

View Our Latest Stock Report on MCRI

Monarch Casino & Resort Stock Performance

Shares of NASDAQ MCRI traded up $0.26 during trading on Friday, reaching $75.73. The stock had a trading volume of 61,954 shares, compared to its average volume of 124,876. The company has a market cap of $1.42 billion, a P/E ratio of 17.90 and a beta of 1.73. Monarch Casino & Resort has a fifty-two week low of $56.25 and a fifty-two week high of $80.22. The business’s 50-day moving average price is $75.38 and its 200-day moving average price is $71.37.

Monarch Casino & Resort (NASDAQ:MCRI – Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. The firm had revenue of $128.14 million during the quarter, compared to analysts’ expectations of $126.03 million. Monarch Casino & Resort had a return on equity of 17.05% and a net margin of 16.31%. Analysts forecast that Monarch Casino & Resort will post 4.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Monarch Casino & Resort

Institutional investors have recently bought and sold shares of the company. Annex Advisory Services LLC grew its stake in Monarch Casino & Resort by 9.2% in the 1st quarter. Annex Advisory Services LLC now owns 14,078 shares of the company’s stock worth $1,056,000 after acquiring an additional 1,189 shares during the period. Diversified Trust Co bought a new stake in shares of Monarch Casino & Resort in the 1st quarter worth about $203,000. Principal Financial Group Inc. increased its holdings in Monarch Casino & Resort by 0.7% in the first quarter. Principal Financial Group Inc. now owns 72,531 shares of the company’s stock valued at $5,439,000 after buying an additional 491 shares during the last quarter. Vest Financial LLC bought a new stake in Monarch Casino & Resort during the first quarter valued at $872,000. Finally, BNP Paribas Financial Markets boosted its stake in Monarch Casino & Resort by 11.9% in the first quarter. BNP Paribas Financial Markets now owns 14,818 shares of the company’s stock valued at $1,111,000 after acquiring an additional 1,581 shares during the period. 62.37% of the stock is owned by institutional investors and hedge funds.

Monarch Casino & Resort Company Profile

(Get Free Report)

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.

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