The stock of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) hit a new 52-week high and has $27.82 target or 7.00% above today’s $26.00 share price. The 8 months bullish chart indicates low risk for the $454.72M company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $27.82 price target is reached, the company will be worth $31.83M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 24,228 shares traded hands. Monarch Casino & Resort, Inc. (NASDAQ:MCRI) has risen 37.55% since April 25, 2016 and is uptrending. It has outperformed by 31.54% the S&P500.
Analysts await Monarch Casino & Resort, Inc. (NASDAQ:MCRI) to report earnings on February, 22. They expect $0.31 earnings per share, up 6.90% or $0.02 from last year’s $0.29 per share. MCRI’s profit will be $5.42M for 20.97 P/E if the $0.31 EPS becomes a reality. After $0.45 actual earnings per share reported by Monarch Casino & Resort, Inc. for the previous quarter, Wall Street now forecasts -31.11% negative EPS growth.
Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Ratings Coverage
Out of 2 analysts covering Monarch Casino & Resort (NASDAQ:MCRI), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Monarch Casino & Resort has been the topic of 2 analyst reports since December 8, 2015 according to StockzIntelligence Inc. Gabelli initiated the stock with “Hold” rating in Friday, October 14 report. Sidoti initiated the shares of MCRI in a report on Tuesday, December 8 with “Buy” rating.
According to Zacks Investment Research, “Monarch Casino & Resort, Inc., through its wholly-owned subsidiary Golden Road Motor Inn, Inc., owns and operates the tropically-themed Atlantis Casino Resort in Reno, Nevada.”
Insitutional Activity: The institutional sentiment increased to 1.15 in Q2 2016. Its up 0.05, from 1.1 in 2016Q1. The ratio increased, as 9 funds sold all Monarch Casino & Resort, Inc. shares owned while 32 reduced positions. 14 funds bought stakes while 31 increased positions. They now own 9.22 million shares or 0.77% less from 9.30 million shares in 2016Q1.
Wells Fargo & Co Mn has 0% invested in the company for 37,860 shares. State Board Of Administration Of Florida Retirement Sys accumulated 12,758 shares or 0% of the stock. Teachers accumulated 0% or 18,312 shares. Pnc Fincl Group reported 92 shares or 0% of all its holdings. Royal Savings Bank Of Canada has 1,000 shares for 0% of their US portfolio. Legal & General Group Incorporated Pcl accumulated 1,193 shares or 0% of the stock. Coe Limited Com accumulated 38,001 shares or 0% of the stock. Commercial Bank Of Ny Mellon accumulated 127,753 shares or 0% of the stock. First Quadrant Ltd Partnership Ca holds 4,500 shares or 0% of its portfolio. Tower Cap Limited Liability Company (Trc) holds 0% of its portfolio in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) for 607 shares. Millennium Management Ltd Liability owns 36,537 shares or 0% of their US portfolio. Deutsche Financial Bank Ag owns 34,170 shares or 0% of their US portfolio. C M Bidwell And Ltd has 17,695 shares for 0.1% of their US portfolio. Morgan Stanley reported 45,644 shares or 0% of all its holdings. Blackrock holds 464 shares or 0% of its portfolio.
Insider Transactions: Since August 17, 2016, the stock had 0 insider buys, and 2 selling transactions for $366,160 net activity. FARAHI BOB sold 10,000 shares worth $242,360. Shares for $123,800 were sold by Farahi David-Jacques.
MCRI Company Profile
Monarch Casino & Resort, Inc. (Monarch), incorporated on June 11, 1993, through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Firm also owns and operates Monarch Casino Black Hawk. The Company’s divisions include Atlantis and Monarch Casino Black Hawk. The Atlantis is located approximately three miles south of downtown in the area of Reno, Nevada. The Atlantis includes three contiguous hotel towers. It features approximately 61,000 square feet of casino space; over 820 guest rooms and suites; approximately eight food outlets; over two espresso and pastry bars; approximately 30,000 square foot health spa and salon with an enclosed year-round pool; approximately two retail outlets offering clothing and traditional gift shop merchandise; approximately 8,000 square-foot family entertainment center, and over 52,000 square feet of banquet, convention and meeting room space. The casino features approximately 1,450 slot and video poker machines; over 40 table games, including blackjack, craps, roulette, and others; a race and sports book; a 24-hour live keno lounge, and a poker room. The Atlantis comprises a range of restaurants, including Toucan Charlie’s Buffet & Grill, Atlantis Steakhouse, Bistro Napa, Oyster Bar on the Sky Terrace, Sushi Bar and Chicago Dogs Eatery.