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 the 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 owns 557,404 shares in the company, valued at $42,641,406. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $77.70, for a total value of $77,700.00.

Monarch Casino & Resort Trading Up 0.4 %

Shares of MCRI stock traded up $0.28 during trading hours on Monday, hitting $78.52. 81,440 shares of the company’s stock were exchanged, compared to its average volume of 72,880. The company has a market capitalization of $1.44 billion, a PE ratio of 17.37 and a beta of 1.73. Monarch Casino & Resort, Inc. has a 12-month low of $64.50 and a 12-month high of $89.06. The business’s 50 day simple moving average is $82.12 and its 200-day simple moving average is $76.68.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, October 23rd. The company reported $1.47 EPS for the quarter, beating 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 net margin of 16.82% and a return on equity of 17.06%. During the same quarter last year, the firm earned $1.38 EPS. Equities analysts anticipate that Monarch Casino & Resort, Inc. will post 4.72 EPS for the current year.

Institutional Investors Weigh In On Monarch Casino & Resort

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. bought a new position in Monarch Casino & Resort during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC boosted its stake 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 valued at $37,000 after purchasing an additional 178 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Monarch Casino & Resort in the second quarter worth approximately $53,000. Canada Pension Plan Investment Board purchased a new position in shares of Monarch Casino & Resort in the second quarter worth $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Monarch Casino & Resort by 81.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock worth $185,000 after buying an additional 1,221 shares during the period. Institutional investors own 62.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on MCRI shares. Truist Financial lifted their price target on Monarch Casino & Resort from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus lifted their target price 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. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Wells Fargo & Company started coverage on shares of Monarch Casino & Resort in a report on Monday, December 16th. They set an “underweight” rating and a $79.00 price objective for the company. Finally, Jefferies Financial Group upped their target price 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $80.40.

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.