John Farahi Sells 1,000 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 1,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total transaction of $77,700.00. Following the transaction, the chief executive officer now directly owns 528,436 shares of the company’s stock, valued at $41,059,477.20. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $76.50, for a total value of $153,000.00.

Monarch Casino & Resort Stock Down 0.4 %

NASDAQ MCRI opened at $78.23 on Wednesday. Monarch Casino & Resort, Inc. has a 52 week low of $64.50 and a 52 week high of $89.06. The firm has a 50 day moving average of $82.09 and a two-hundred day moving average of $76.75. The stock has a market capitalization of $1.44 billion, a PE ratio of 17.31 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 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.10. Monarch Casino & Resort had a net margin of 16.82% and a return on equity of 17.06%. The firm had revenue of $137.87 million during the quarter, compared to the consensus estimate of $134.50 million. During the same quarter in the previous year, the firm posted $1.38 earnings per share. On average, equities research analysts expect that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MCRI has been the topic of several research reports. Truist Financial increased their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group raised their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Wells Fargo & Company started coverage on shares of Monarch Casino & Resort in a research note on Monday, December 16th. They set an “underweight” rating and a $79.00 target price on the stock. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 17th. Finally, 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 research note on Thursday, October 24th. One research 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 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

Several hedge funds and other institutional investors have recently made changes to their positions in MCRI. Financial Management Professionals Inc. purchased a new position in Monarch Casino & Resort in the third quarter valued at approximately $30,000. GAMMA Investing LLC grew its position in shares of Monarch Casino & Resort by 61.0% in the 3rd quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after buying an additional 178 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth $53,000. Canada Pension Plan Investment Board purchased a new stake in Monarch Casino & Resort in the second quarter valued at $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Monarch Casino & Resort by 81.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,712 shares of the company’s stock valued at $185,000 after acquiring an additional 1,221 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

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.