Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO Sells $77,700.00 in Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the sale, the chief executive officer now owns 528,436 shares of the company’s stock, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 Stock Up 1.1 %

Monarch Casino & Resort stock opened at $79.10 on Thursday. The firm has a market cap of $1.45 billion, a P/E ratio of 17.50 and a beta of 1.73. The business has a fifty day moving average of $82.08 and a two-hundred day moving average of $76.77. Monarch Casino & Resort, Inc. has a twelve month low of $64.50 and a twelve month high of $89.06.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share 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 firm had revenue of $137.87 million during the quarter, compared to analysts’ expectations of $134.50 million. During the same period in the prior year, the business posted $1.38 EPS. Equities analysts expect that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on MCRI. Truist Financial boosted their price objective on shares of 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 boosted their price target on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Jefferies Financial Group raised their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company initiated coverage on Monarch Casino & Resort in a report on Monday, December 16th. They issued an “underweight” rating and a $79.00 target price for the company. Finally, StockNews.com lowered 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 given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $80.40.

Institutional Trading of Monarch Casino & Resort

A number of institutional investors have recently modified their holdings of MCRI. Janus Henderson Group PLC raised its stake in shares of Monarch Casino & Resort by 0.9% during the 3rd quarter. Janus Henderson Group PLC now owns 388,658 shares of the company’s stock worth $30,809,000 after acquiring an additional 3,488 shares in the last quarter. American Century Companies Inc. boosted its stake in Monarch Casino & Resort by 17.3% in the second quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock valued at $21,371,000 after acquiring an additional 46,323 shares in the last quarter. Wellington Management Group LLP grew its holdings 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 purchasing an additional 8,283 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Monarch Casino & Resort by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 178,727 shares of the company’s stock worth $12,177,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Monarch Casino & Resort by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock valued at $11,949,000 after purchasing an additional 9,990 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors.

About Monarch Casino & Resort

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.