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 Monarch Casino & Resort stock in a transaction that occurred 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 approximately $41,059,477.20. The trade was a 0.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 %

Shares of MCRI stock opened at $78.52 on Tuesday. The company’s fifty day simple moving average is $82.12 and its 200-day simple moving average is $76.68. Monarch Casino & Resort, Inc. has a 12 month low of $64.50 and a 12 month high of $89.06. The firm has a market cap of $1.44 billion, a PE ratio of 17.37 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) 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 firm had revenue of $137.87 million for the quarter, compared to analyst estimates of $134.50 million. During the same period in the prior year, the firm posted $1.38 earnings per share. On average, equities analysts predict that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Institutional Trading of Monarch Casino & Resort

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in Monarch Casino & Resort by 7.3% during the third quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock worth $665,000 after acquiring an additional 597 shares in the last quarter. Barclays PLC raised its position in Monarch Casino & Resort by 108.2% during the third quarter. Barclays PLC now owns 33,508 shares of the company’s stock worth $2,656,000 after acquiring an additional 17,413 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Monarch Casino & Resort by 518.8% in the third quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after purchasing an additional 98,153 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Monarch Casino & Resort by 3.9% in the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock valued at $17,410,000 after purchasing an additional 8,283 shares during the last quarter. Finally, Weiss Asset Management LP increased its holdings in shares of Monarch Casino & Resort by 1,289.7% in the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock valued at $6,279,000 after purchasing an additional 73,512 shares during the last quarter. 62.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCRI has been the topic of a number of research reports. Truist Financial lifted 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. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. Jefferies Financial Group boosted their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday. Wells Fargo & Company began coverage on shares of Monarch Casino & Resort in a research report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.