Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi Sells 1,000 Shares

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 1,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $77.70, for a total transaction of $77,700.00. Following the completion of the transaction, the chief executive officer now owns 528,436 shares in the company, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

John Farahi also recently made the following trade(s):

• On Tuesday, October 15th, John Farahi sold 2,000 shares of Monarch Casino & Resort stock. The shares were sold at an average price of $76.50, for a total transaction of $153,000.00.

Monarch Casino & Resort Stock Up 0.4 %

MCRI opened at $78.52 on Tuesday. Monarch Casino & Resort, Inc. has a twelve month low of $64.50 and a twelve month high of $89.06. The company has a 50-day simple moving average of $82.12 and a 200 day simple moving average of $76.68. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 17.37 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The business had revenue of $137.87 million during the quarter, compared to analysts’ expectations of $134.50 million. During the same quarter in the prior year, the business posted $1.38 earnings per share. Sell-side analysts anticipate that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MCRI has been the topic of several research reports. Wells Fargo & Company initiated coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They issued an “underweight” rating and a $79.00 price target on the stock. Truist Financial upped their price target on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group upped their price target on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday. Stifel Nicolaus upped their price target on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Finally, StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $80.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. bought a new position in shares of Monarch Casino & Resort in the third quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in shares of Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after acquiring an additional 178 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Monarch Casino & Resort in the second quarter worth about $53,000. Canada Pension Plan Investment Board bought a new position in shares of Monarch Casino & Resort in the second quarter worth about $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Monarch Casino & Resort by 81.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock worth $185,000 after acquiring an additional 1,221 shares during the last quarter. Institutional investors own 62.37% 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 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.