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 shares were 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 directly owns 557,404 shares of the company’s stock, valued at approximately $42,641,406. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Performance

MCRI stock opened at $79.10 on Thursday. The firm has a market cap of $1.45 billion, a P/E ratio of 17.50 and a beta of 1.73. The firm’s fifty day moving average is $82.08 and its 200 day moving average is $76.77. Monarch Casino & Resort, Inc. has a 52 week low of $64.50 and a 52 week high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last released 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. The firm had revenue of $137.87 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $1.38 earnings per share. As a group, analysts forecast that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

Analyst Upgrades and Downgrades

MCRI has been the topic of several recent analyst reports. Jefferies Financial Group raised their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a report on Friday, January 3rd. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial lifted their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a report 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 target price on the stock. Finally, Stifel Nicolaus lifted their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a research note 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $80.40.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC raised its stake in shares of 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 acquiring an additional 98,153 shares during the last quarter. Weiss Asset Management LP increased its holdings in Monarch Casino & Resort by 1,289.7% during the 3rd 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 period. Millennium Management LLC raised 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. lifted its holdings in Monarch Casino & Resort by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after buying an additional 46,323 shares during the period. Finally, Verition Fund Management LLC bought a new stake in shares of Monarch Casino & Resort in the 3rd quarter worth approximately $2,349,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.