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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 1,000 shares of Monarch Casino & Resort 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 directly owns 528,436 shares in the company, valued at $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Price Performance

Shares of MCRI stock opened at $78.23 on Wednesday. The business’s fifty day moving average price is $82.09 and its 200 day moving average price is $76.75. The firm has a market capitalization of $1.44 billion, a PE ratio of 17.31 and a beta of 1.73. Monarch Casino & Resort, Inc. has a 1-year low of $64.50 and a 1-year high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $134.50 million. During the same period in the prior year, the company posted $1.38 EPS. Equities research analysts expect that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monarch Casino & Resort

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its stake in Monarch Casino & Resort by 0.9% in the 3rd quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock valued at $30,809,000 after purchasing an additional 3,488 shares in the last quarter. American Century Companies Inc. increased its position in shares of Monarch Casino & Resort by 17.3% in the second quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after buying an additional 46,323 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Monarch Casino & Resort by 3.9% during the 3rd quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after buying an additional 8,283 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Monarch Casino & Resort by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company’s stock worth $12,177,000 after buying an additional 1,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Monarch Casino & Resort by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock valued at $11,949,000 after acquiring an additional 9,990 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCRI. Stifel Nicolaus raised their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. StockNews.com lowered Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial increased their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Jefferies Financial Group boosted their price objective 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, January 3rd. Finally, 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 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Monarch Casino & Resort currently has an average rating of “Hold” and an average target price of $80.40.

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.