Insider Selling: 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 stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $42,641,406. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 1.1 %

Shares of MCRI stock opened at $79.10 on Thursday. Monarch Casino & Resort, Inc. has a 12-month low of $64.50 and a 12-month high of $89.06. The company has a 50 day moving average of $82.08 and a 200-day moving average of $76.77. The firm has a market cap of $1.45 billion, a P/E ratio of 17.50 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.10. The firm 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 previous year, the company posted $1.38 earnings per share. As a group, equities analysts expect that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MCRI. StockNews.com downgraded shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Stifel Nicolaus boosted their price target 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. Jefferies Financial Group upped their price objective 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, January 3rd. Wells Fargo & Company initiated 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, Truist Financial upped their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.40.

Institutional Investors Weigh In On Monarch Casino & Resort

Institutional investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. purchased a new stake in shares of Monarch Casino & Resort during the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC lifted its position in shares of Monarch Casino & Resort by 61.0% during the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock worth $37,000 after acquiring an additional 178 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Monarch Casino & Resort in the second quarter worth $53,000. Canada Pension Plan Investment Board purchased a new position in shares of Monarch Casino & Resort in the second quarter valued at $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Monarch Casino & Resort by 81.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after purchasing an additional 1,221 shares during the period. 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.