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 company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.50, for a total transaction of $153,000.00. Following the completion of the transaction, the chief executive officer now owns 557,404 shares of the company’s stock, valued at $42,641,406. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 shares were sold at an average price of $77.70, for a total transaction of $77,700.00.

Monarch Casino & Resort Stock Down 0.4 %

MCRI stock opened at $78.23 on Wednesday. The business has a 50 day moving average of $82.09 and a 200 day moving average of $76.75. The firm has a market cap of $1.44 billion, a PE ratio of 17.31 and a beta of 1.73. Monarch Casino & Resort, Inc. has a twelve month low of $64.50 and a twelve month high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, topping 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 period in the prior year, the firm posted $1.38 earnings per share. On average, research analysts expect that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MCRI. Jane Street Group LLC lifted its position in Monarch Casino & Resort by 518.8% in the 3rd quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after acquiring an additional 98,153 shares in the last quarter. Weiss Asset Management LP raised its stake 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 worth $6,279,000 after purchasing an additional 73,512 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Monarch Casino & Resort by 376.1% during the second quarter. Millennium Management LLC now owns 85,869 shares of the company’s stock valued at $5,850,000 after purchasing an additional 67,833 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Monarch Casino & Resort by 17.3% during 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 during the last quarter. Finally, Verition Fund Management LLC bought a new stake in Monarch Casino & Resort in the 3rd quarter worth about $2,349,000. Institutional investors own 62.37% of the company’s stock.

Wall Street Analyst Weigh In

MCRI has been the topic of several research reports. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Truist Financial raised their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company began coverage on 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. Jefferies Financial Group raised their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Finally, Stifel Nicolaus upped their target price 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.