John Farahi Sells 2,000 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $68.00, for a total transaction of $136,000.00. Following the completion of the sale, the chief executive officer now owns 525,310 shares of the company’s stock, valued at $35,721,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Monarch Casino & Resort Price Performance

Shares of Monarch Casino & Resort stock opened at $68.13 on Friday. The firm has a fifty day moving average price of $67.55 and a 200 day moving average price of $68.84. Monarch Casino & Resort, Inc. has a 1 year low of $56.25 and a 1 year high of $75.40. The stock has a market cap of $1.28 billion, a PE ratio of 16.11 and a beta of 1.70.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, April 17th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.05). Monarch Casino & Resort had a return on equity of 17.13% and a net margin of 16.40%. The business had revenue of $121.66 million for the quarter, compared to analysts’ expectations of $122.13 million. As a group, equities analysts expect that Monarch Casino & Resort, Inc. will post 4.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Westwood Holdings Group Inc. purchased a new position in shares of Monarch Casino & Resort during the first quarter worth $2,822,000. Aristides Capital LLC purchased a new position in Monarch Casino & Resort in the first quarter valued at $270,000. Price T Rowe Associates Inc. MD increased its holdings in Monarch Casino & Resort by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,851 shares of the company’s stock valued at $289,000 after buying an additional 443 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Monarch Casino & Resort in the first quarter valued at $239,000. Finally, Pitcairn Co. increased its holdings in Monarch Casino & Resort by 4.3% in the first quarter. Pitcairn Co. now owns 5,698 shares of the company’s stock valued at $427,000 after buying an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Macquarie raised their price target on shares of Monarch Casino & Resort from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. StockNews.com raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Saturday, March 9th.

Monarch Casino & Resort Company Profile

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.