Monarch Casino & Resort, Inc. (NASDAQ:MCRI) President Bob Farahi sold 34,000 shares of Monarch Casino & Resort stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $34.43, for a total value of $1,170,620.00. Following the completion of the transaction, the president now owns 482,516 shares in the company, valued at approximately $16,613,025.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Monarch Casino & Resort, Inc. (MCRI) traded down 0.63% on Thursday, reaching $34.69. The company had a trading volume of 31,908 shares. The stock’s 50 day moving average is $31.44 and its 200 day moving average is $29.04. The firm has a market capitalization of $608.98 million, a price-to-earnings ratio of 23.49 and a beta of 1.06. Monarch Casino & Resort, Inc. has a 52 week low of $21.13 and a 52 week high of $35.40.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. Monarch Casino & Resort had a net margin of 11.77% and a return on equity of 11.16%. The firm had revenue of $58.23 million during the quarter, compared to the consensus estimate of $58 million. On average, equities analysts anticipate that Monarch Casino & Resort, Inc. will post $1.51 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Argent Capital Management LLC raised its stake in Monarch Casino & Resort by 6.4% in the first quarter. Argent Capital Management LLC now owns 116,137 shares of the company’s stock worth $3,431,000 after buying an additional 7,025 shares during the period. Prudential Financial Inc. raised its stake in Monarch Casino & Resort by 2.6% in the first quarter. Prudential Financial Inc. now owns 33,152 shares of the company’s stock worth $980,000 after buying an additional 830 shares during the period. Hancock Holding Co. purchased a new stake in Monarch Casino & Resort during the first quarter worth $209,000. Friedberg Investment Management raised its stake in Monarch Casino & Resort by 4.1% in the first quarter. Friedberg Investment Management now owns 90,420 shares of the company’s stock worth $2,671,000 after buying an additional 3,600 shares during the period. Finally, Alambic Investment Management L.P. raised its stake in Monarch Casino & Resort by 12.5% in the first quarter. Alambic Investment Management L.P. now owns 52,380 shares of the company’s stock worth $1,547,000 after buying an additional 5,800 shares during the period. 56.79% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently commented on the company. Zacks Investment Research upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Friday, July 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $33.00 price objective on shares of Monarch Casino & Resort in a report on Friday, July 28th. Imperial Capital lifted their price objective on Monarch Casino & Resort from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. BidaskClub downgraded Monarch Casino & Resort from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Deutsche Bank AG lifted their price objective on Monarch Casino & Resort from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $46.60.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

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