Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO Sells $153,000.00 in Stock

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

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 Stock Up 0.4 %

Shares of MCRI stock traded up $0.28 during mid-day trading on Monday, reaching $78.52. 81,440 shares of the company’s stock traded hands, compared to its average volume of 72,880. The company’s 50-day moving average price is $82.12 and its 200-day moving average price is $76.68. The company has a market cap of $1.44 billion, a P/E ratio of 17.37 and a beta of 1.73. Monarch Casino & Resort, Inc. has a 12 month low of $64.50 and a 12 month high of $89.06.

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

Analyst Upgrades and Downgrades

MCRI has been the topic of several research analyst reports. Wells Fargo & Company began coverage on Monarch Casino & Resort in a research note on Monday, December 16th. They set an “underweight” rating and a $79.00 target price on the stock. Truist Financial boosted their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group raised their target price 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. StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus raised their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a 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. Based on data from MarketBeat.com, Monarch Casino & Resort has an average rating of “Hold” and a consensus target price of $80.40.

Institutional Trading of Monarch Casino & Resort

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC raised its stake in Monarch Casino & Resort by 518.8% during the third quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after buying an additional 98,153 shares during the last quarter. Weiss Asset Management LP boosted its stake in Monarch Casino & Resort by 1,289.7% in the 3rd 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 in the last quarter. Millennium Management LLC grew its position in Monarch Casino & Resort by 376.1% during the 2nd 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 during the last quarter. American Century Companies Inc. increased its stake in Monarch Casino & Resort by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after purchasing an additional 46,323 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in Monarch Casino & Resort in the third quarter worth about $2,349,000. Hedge funds and other 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.