Insider Selling: 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 the stock in a transaction dated 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 $41,059,477.20. This represents a 0.19 % decrease in their position. The transaction 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 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 Up 1.1 %

Monarch Casino & Resort stock opened at $79.10 on Thursday. Monarch Casino & Resort, Inc. has a twelve month low of $64.50 and a twelve month high of $89.06. The company’s 50-day moving average price is $82.08 and its 200-day moving average price is $76.77. The company has a market cap of $1.45 billion, a PE ratio of 17.50 and a beta of 1.73.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. The business had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.50 million. Monarch Casino & Resort had a return on equity of 17.06% and a net margin of 16.82%. During the same period in the prior year, the business posted $1.38 earnings per share. As a group, sell-side analysts expect that Monarch Casino & Resort, Inc. will post 4.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCRI. Jefferies Financial Group lifted 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 report on Friday, January 3rd. 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. Stifel Nicolaus raised their price objective 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. Truist Financial boosted their target price on Monarch Casino & Resort from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company initiated coverage on Monarch Casino & Resort in a report on Monday, December 16th. They set an “underweight” rating and a $79.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Monarch Casino & Resort currently has an average rating of “Hold” and a consensus price target of $80.40.

Institutional Trading of Monarch Casino & Resort

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

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.