Insider Selling: Monarch Casino & Resort (NASDAQ:MCRI) CEO Sells $198,000.00 in Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 2,000 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $99.00, for a total value of $198,000.00. Following the completion of the transaction, the chief executive officer owned 536,304 shares in the company, valued at approximately $53,094,096. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, March 10th, John Farahi sold 1,000 shares of Monarch Casino & Resort stock. The stock was sold at an average price of $97.43, for a total value of $97,430.00.

Monarch Casino & Resort Stock Performance

Monarch Casino & Resort stock opened at $93.98 on Friday. The stock has a market cap of $1.68 billion, a PE ratio of 17.31 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. The stock has a fifty day moving average of $95.39 and a 200 day moving average of $96.47.

Monarch Casino & Resort (NASDAQ:MCRI) last announced 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). The firm had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $139.39 million. Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. As a group, sell-side analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, March 2nd. Monarch Casino & Resort’s dividend payout ratio is 22.10%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Monarch Casino & Resort by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 1,030,396 shares of the company’s stock worth $98,609,000 after acquiring an additional 5,667 shares in the last quarter. American Century Companies Inc. lifted its holdings in Monarch Casino & Resort by 4.3% during the third quarter. American Century Companies Inc. now owns 491,400 shares of the company’s stock valued at $52,010,000 after purchasing an additional 20,328 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Monarch Casino & Resort by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 396,844 shares of the company’s stock valued at $37,983,000 after purchasing an additional 10,890 shares in the last quarter. Tributary Capital Management LLC boosted its position in shares of Monarch Casino & Resort by 57.8% in the third quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock worth $41,204,000 after purchasing an additional 142,621 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Monarch Casino & Resort by 38.2% in the fourth quarter. Invesco Ltd. now owns 194,371 shares of the company’s stock worth $18,601,000 after purchasing an additional 53,745 shares during the period. 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.