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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $97.43, for a total transaction of $97,430.00. Following the completion of the sale, the chief executive officer owned 538,304 shares in the company, valued at $52,446,958.72. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, March 16th, John Farahi sold 2,000 shares of Monarch Casino & Resort stock. The stock was sold at an average price of $99.00, for a total transaction of $198,000.00.

Monarch Casino & Resort Trading Up 0.7%

Shares of NASDAQ MCRI traded up $0.70 during mid-day trading on Wednesday, hitting $99.58. The company had a trading volume of 39,191 shares, compared to its average volume of 114,333. The firm has a 50-day simple moving average of $95.06 and a two-hundred day simple moving average of $96.50. The company has a market capitalization of $1.78 billion, a PE ratio of 18.31 and a beta of 1.29. Monarch Casino & Resort, Inc. has a one year low of $69.99 and a one year high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last released its earnings results on Wednesday, February 4th. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.12). Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The company had revenue of $140.00 million for the quarter, compared to the consensus estimate of $139.39 million. During the same quarter in the previous year, the company posted $0.22 EPS. The business’s revenue was up 4.1% on a year-over-year basis. Sell-side analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.30 per share. The ex-dividend date was Monday, March 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.2%. Monarch Casino & Resort’s dividend payout ratio is currently 22.10%.

Institutional Trading of Monarch Casino & Resort

Several institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in shares of Monarch Casino & Resort by 4.3% during the 3rd quarter. American Century Companies Inc. now owns 491,400 shares of the company’s stock worth $52,010,000 after acquiring an additional 20,328 shares during the period. Assenagon Asset Management S.A. raised its stake in Monarch Casino & Resort by 211.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 68,092 shares of the company’s stock valued at $7,207,000 after acquiring an additional 46,235 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Monarch Casino & Resort by 10.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 108,791 shares of the company’s stock valued at $9,404,000 after acquiring an additional 10,553 shares during the period. Tributary Capital Management LLC lifted its holdings 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 valued at $41,204,000 after purchasing an additional 142,621 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in Monarch Casino & Resort during the 3rd quarter valued at $1,348,000. Institutional investors own 62.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. Zacks Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Wells Fargo & Company upped their price target on shares of Monarch Casino & Resort from $92.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $112.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Monarch Casino & Resort presently has a consensus rating of “Moderate Buy” and an average target price of $99.80.

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.