John Farahi Sells 5,000 Shares of Monarch Casino & Resort (NASDAQ:MCRI) Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 5,000 shares of Monarch Casino & Resort stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $103.77, for a total transaction of $518,850.00. Following the transaction, the chief executive officer directly owned 554,110 shares in the company, valued at approximately $57,499,994.70. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

John Farahi also recently made the following trade(s):

• On Wednesday, December 17th, John Farahi sold 1,000 shares of Monarch Casino & Resort stock. The stock was sold at an average price of $100.63, for a total value of $100,630.00.

Monarch Casino & Resort Trading Down 1.0%

Shares of NASDAQ MCRI traded down $0.95 during midday trading on Friday, reaching $93.16. The company’s stock had a trading volume of 32,879 shares, compared to its average volume of 66,816. Monarch Casino & Resort, Inc. has a fifty-two week low of $69.99 and a fifty-two week high of $113.88. The stock has a 50 day simple moving average of $95.99 and a 200-day simple moving average of $97.57. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 16.73 and a beta of 1.36.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.06. Monarch Casino & Resort had a net margin of 19.26% and a return on equity of 19.33%. The firm had revenue of $142.81 million during the quarter, compared to analysts’ expectations of $145.54 million. As a group, equities analysts anticipate that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, December 1st. Monarch Casino & Resort’s payout ratio is presently 21.66%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MCRI. Wall Street Zen lowered shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monarch Casino & Resort in a research note on Monday, December 29th. Zacks Research downgraded Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Wells Fargo & Company raised their target price on shares of Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Finally, Stifel Nicolaus lifted their price target on shares of Monarch Casino & Resort from $92.00 to $97.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Monarch Casino & Resort currently has a consensus rating of “Hold” and a consensus target price of $99.40.

Institutional Trading of Monarch Casino & Resort

Hedge funds have recently added to or reduced their stakes in the company. Tributary Capital Management LLC lifted its stake in Monarch Casino & Resort by 57.8% during the 3rd quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock worth $41,204,000 after acquiring an additional 142,621 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in Monarch Casino & Resort by 77.1% during the third quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company’s stock worth $19,951,000 after purchasing an additional 82,035 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Monarch Casino & Resort by 64.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company’s stock worth $18,943,000 after purchasing an additional 70,185 shares during the last quarter. Geode Capital Management LLC increased its stake in Monarch Casino & Resort by 20.0% in the second quarter. Geode Capital Management LLC now owns 391,868 shares of the company’s stock valued at $33,877,000 after purchasing an additional 65,272 shares during the period. Finally, Clark Capital Management Group Inc. purchased a new position in Monarch Casino & Resort in the 3rd quarter valued at $6,192,000. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.