John Farahi Sells 2,000 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction 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 $42,641,406. The trade was a 0.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 shares were 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 $78.23 on Wednesday. The firm has a market cap of $1.44 billion, a PE ratio of 17.31 and a beta of 1.73. The firm has a fifty day moving average price of $82.09 and a 200 day moving average price of $76.75. Monarch Casino & Resort, Inc. has a fifty-two week low of $64.50 and a fifty-two week high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. The company had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. During the same period last year, the company earned $1.38 earnings per share. On average, equities analysts predict that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MCRI. Stifel Nicolaus boosted their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Truist Financial boosted their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. 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 price objective on the stock. Jefferies Financial Group boosted their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Finally, StockNews.com cut shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Monarch Casino & Resort presently has an average rating of “Hold” and a consensus target price of $80.40.

Institutional Investors Weigh In On Monarch Casino & Resort

Several hedge funds have recently made changes to their positions in MCRI. Franklin Resources Inc. raised its holdings in shares of Monarch Casino & Resort by 7.3% in the 3rd quarter. Franklin Resources Inc. now owns 8,822 shares of the company’s stock valued at $665,000 after purchasing an additional 597 shares in the last quarter. Barclays PLC increased its holdings 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 buying an additional 17,413 shares during the period. Jane Street Group LLC increased its holdings 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 period. Wellington Management Group LLP raised its stake in Monarch Casino & Resort by 3.9% in the third quarter. Wellington Management Group LLP now owns 219,625 shares of the company’s stock worth $17,410,000 after buying an additional 8,283 shares in the last quarter. Finally, Weiss Asset Management LP lifted its holdings in Monarch Casino & Resort by 1,289.7% during the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock worth $6,279,000 after buying an additional 73,512 shares during the period. 62.37% of the stock is currently owned by hedge funds and other institutional investors.

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.