Insider Selling: Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO Sells 1,000 Shares of Stock

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

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 shares were sold at an average price of $76.50, for a total transaction of $153,000.00.

Monarch Casino & Resort Trading Up 0.4 %

Shares of NASDAQ MCRI traded up $0.28 during mid-day trading on Monday, hitting $78.52. The company had a trading volume of 81,440 shares, compared to its average volume of 72,880. Monarch Casino & Resort, Inc. has a one year low of $64.50 and a one year high of $89.06. The company has a market capitalization of $1.44 billion, a PE ratio of 17.37 and a beta of 1.73. The firm has a 50-day simple moving average of $82.12 and a two-hundred day simple moving average of $76.68.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.47 earnings per share for the quarter, beating 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 the consensus estimate of $134.50 million. During the same period last year, the company earned $1.38 earnings per share. Sell-side analysts expect that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Institutional Trading of Monarch Casino & Resort

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased 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 purchasing an additional 3,488 shares during the last quarter. American Century Companies Inc. grew its holdings in Monarch Casino & Resort by 17.3% during the second quarter. American Century Companies Inc. now owns 313,682 shares of the company’s stock worth $21,371,000 after purchasing an additional 46,323 shares during the period. Wellington Management Group LLP grew its holdings in Monarch Casino & Resort by 3.9% during 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 period. Bank of New York Mellon Corp increased its position in 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 buying an additional 1,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Monarch Casino & Resort by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 175,378 shares of the company’s stock valued at $11,949,000 after buying an additional 9,990 shares during the period. 62.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company began coverage on shares of Monarch Casino & Resort in a research report on Monday, December 16th. They set an “underweight” rating and a $79.00 price objective for the company. Jefferies Financial Group increased their target price on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday. 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. StockNews.com downgraded Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Finally, Stifel Nicolaus lifted their target price on Monarch Casino & Resort from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.