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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.50, for a total value of $153,000.00. Following the sale, the chief executive officer now owns 557,404 shares in the company, valued at $42,641,406. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, January 3rd, John Farahi sold 1,000 shares of Monarch Casino & Resort stock. The stock was sold at an average price of $77.70, for a total value of $77,700.00.

Monarch Casino & Resort Trading Up 0.4 %

Shares of Monarch Casino & Resort stock 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 stock has a market capitalization of $1.44 billion, a P/E ratio of 17.37 and a beta of 1.73. The business’s fifty day moving average price is $82.12 and its 200 day moving average price is $76.68.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. The firm had revenue of $137.87 million for the quarter, compared to analysts’ expectations of $134.50 million. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same quarter last year, the firm earned $1.38 earnings per share. As a group, sell-side analysts predict that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCRI. Wells Fargo & Company began coverage on Monarch Casino & Resort in a report on Monday, December 16th. They set an “underweight” rating and a $79.00 price objective on the stock. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Truist Financial raised their price objective on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group lifted their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday. 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $80.40.

Institutional Inflows and Outflows

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