Insider Selling: Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO Sells $136,000.00 in Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 2,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $68.00, for a total value of $136,000.00. Following the transaction, the chief executive officer now directly owns 525,310 shares in the company, valued at approximately $35,721,080. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Monarch Casino & Resort Stock Performance

Shares of MCRI opened at $68.13 on Monday. Monarch Casino & Resort, Inc. has a 52-week low of $56.25 and a 52-week high of $75.40. The stock’s 50-day simple moving average is $67.55 and its 200 day simple moving average is $68.85. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 16.11 and a beta of 1.70.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, April 17th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.05). The firm had revenue of $121.66 million during the quarter, compared to analysts’ expectations of $122.13 million. Monarch Casino & Resort had a return on equity of 17.13% and a net margin of 16.40%. On average, research analysts forecast that Monarch Casino & Resort, Inc. will post 4.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Monarch Casino & Resort by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 107,097 shares of the company’s stock worth $6,651,000 after buying an additional 5,575 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Monarch Casino & Resort by 12.4% during the third quarter. Deutsche Bank AG now owns 7,618 shares of the company’s stock worth $473,000 after purchasing an additional 843 shares in the last quarter. Rhumbline Advisers increased its position in shares of Monarch Casino & Resort by 0.7% in the third quarter. Rhumbline Advisers now owns 31,561 shares of the company’s stock worth $1,960,000 after purchasing an additional 228 shares during the last quarter. Invesco Ltd. raised its stake in Monarch Casino & Resort by 87.2% in the third quarter. Invesco Ltd. now owns 101,336 shares of the company’s stock valued at $6,293,000 after purchasing an additional 47,214 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Monarch Casino & Resort during the third quarter valued at approximately $308,000. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCRI has been the topic of a number of research reports. Macquarie boosted their price objective on Monarch Casino & Resort from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. StockNews.com raised shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th.

About Monarch Casino & Resort

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.