John Farahi Sells 1,000 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 1,000 shares of the stock in a transaction dated 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 $41,059,477.20. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $76.50, for a total transaction of $153,000.00.

Monarch Casino & Resort Price Performance

NASDAQ:MCRI traded up $0.28 during trading hours on Monday, reaching $78.52. 81,440 shares of the company were exchanged, compared to its average volume of 72,880. The business has a 50 day moving average of $82.12 and a 200 day moving average of $76.68. Monarch Casino & Resort, Inc. has a 1-year low of $64.50 and a 1-year high of $89.06. The company has a market capitalization of $1.44 billion, a P/E ratio of 17.37 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last released its 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. The company had revenue of $137.87 million for the quarter, compared to analyst estimates 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 EPS. As a group, equities research analysts anticipate that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monarch Casino & Resort

Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in shares of Monarch Casino & Resort by 7.3% during the 3rd quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock worth $665,000 after acquiring an additional 597 shares during the period. 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 valued at $2,656,000 after purchasing an additional 17,413 shares in the last quarter. Jane Street Group LLC lifted 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 worth $9,280,000 after purchasing an additional 98,153 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Monarch Casino & Resort by 3.9% in the 3rd 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 in the last quarter. Finally, Weiss Asset Management LP increased its stake in shares of 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 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 subject of several research reports. Truist Financial raised their price objective on shares of Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. 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 report on Thursday, October 24th. Jefferies Financial Group boosted their price target on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday. Wells Fargo & Company assumed coverage on Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price objective on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Monarch Casino & Resort has a consensus rating of “Hold” and a consensus target price of $80.40.

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.